Cover Page
Cover Page | 12 Months Ended |
Dec. 31, 2019shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2019 |
Document Fiscal Year Focus | 2019 |
Document Fiscal Period Focus | FY |
Entity Registrant Name | CHINA EASTERN AIRLINES CORP LTD |
Entity Central Index Key | 0001030475 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | No |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Shell Company | false |
Entity Emerging Growth Company | false |
Entity Voluntary Filers | No |
Entity Interactive Data Current | Yes |
Document Accounting Standard | International Financial Reporting Standards |
Document Annual Report | true |
Entity Address, Country | CN |
Document Transition Report | false |
Document Shell Company Report | false |
Document Registration Statement | false |
Entity Incorporation, State or Country Code | F4 |
American Depositary Shares [member] | |
Document Information [Line Items] | |
Trading Symbol | CEA |
Title of 12(b) Security | American Depositary Shares |
Security Exchange Name | NYSE |
H shares [member] | |
Document Information [Line Items] | |
Title of 12(b) Security | Ordinary H Shares, par value RMB1.00 per share |
Security Exchange Name | NYSE |
Entity Common Stock, Shares Outstanding | 5,176,777,777 |
No Trading Symbol Flag | true |
A shares [member] | |
Document Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 11,202,731,426 |
Consolidated Statement of Profi
Consolidated Statement of Profit or Loss and Other Comprehensive Income - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Profit or loss [abstract] | |||
Revenues | ¥ 120,986 | ¥ 115,278 | ¥ 102,475 |
Other operating income and gains | 7,202 | 6,592 | 7,481 |
Revenue and other | 128,188 | 121,870 | 109,956 |
Operating expenses | |||
Aircraft fuel | (34,191) | (33,680) | (25,131) |
Take-off and landing charges | (16,457) | (14,914) | (13,254) |
Depreciation and amortization | (22,080) | (15,313) | (13,969) |
Wages, salaries and benefits | (24,152) | (22,134) | (20,320) |
Aircraft maintenance | (3,380) | (3,738) | (5,346) |
Food and beverages | (3,667) | (3,383) | (3,090) |
Low value and short-term lease rentals | (631) | ||
Aircraft operating lease rentals | (4,306) | (4,318) | |
Other operating lease rentals | (928) | (836) | |
Selling and marketing expenses | (4,134) | (3,807) | (3,294) |
Civil aviation development fund | (1,831) | (2,235) | (2,080) |
Ground services and other expenses | (2,476) | (2,845) | (3,248) |
Impairment charges | (4) | (318) | (494) |
Impairment losses on financial assets, net | (16) | (27) | 3 |
Fair value changes of financial asset at fair value through profit or loss | 25 | (27) | |
Gain/(loss) on fair value changes of derivative-financial instruments | 311 | (311) | |
Indirect operating expenses | (5,113) | (5,217) | (4,837) |
Total operating expenses | (118,107) | (112,561) | (100,525) |
Operating profit | 10,081 | 9,309 | 9,431 |
Share of results of associates | 265 | 170 | 202 |
Share of results of joint ventures | 17 | 34 | 49 |
Finance income | 96 | 110 | 2,112 |
Finance costs | (6,160) | (5,767) | (3,184) |
Profit before income tax | 4,299 | 3,856 | 8,610 |
Income tax expense | (819) | (926) | (1,800) |
Profit for the year | 3,480 | 2,930 | 6,810 |
Other comprehensive income for the year | |||
Cash flow hedges, net of tax | (110) | 43 | 35 |
Fair value changes of available-for-sale investments, net of tax | 115 | ||
Share of other comprehensive income of an associate, net of tax | 10 | ||
Net other comprehensive income that may be reclassified to profit or loss in subsequent periods | (110) | 43 | 160 |
Other comprehensive income that will not be reclassified to profit or loss in subsequent periods | |||
Fair value changes of equity investments designated at fair value through other comprehensive income, net of tax | 16 | (247) | |
Share of other comprehensive income of an associate, net of tax | 7 | (24) | |
Actuarial gains/(losses) on the post-retirement benefit obligations, net of tax | 40 | (115) | 124 |
Net other comprehensive income that will not be reclassified to profit or loss in subsequent periods | 63 | (386) | 124 |
Other comprehensive income for the year, net of tax | (47) | (343) | 284 |
Total comprehensive income for the year | 3,433 | 2,587 | 7,094 |
Profit attributable to: | |||
Equity holders of the Company | 3,192 | 2,698 | 6,342 |
Non-controlling interests | 288 | 232 | 468 |
Profit for the year | 3,480 | 2,930 | 6,810 |
Total comprehensive income attributable to: | |||
Equity holders of the Company | 3,141 | 2,358 | 6,619 |
Non-controlling interests | 292 | 229 | 475 |
Total comprehensive income for the year | ¥ 3,433 | ¥ 2,587 | ¥ 7,094 |
Earnings per share attributable to the equity holders of the Company during the year | |||
– Basic and diluted (RMB) | ¥ 0.21 | ¥ 0.19 | ¥ 0.44 |
Consolidated Statement of Finan
Consolidated Statement of Financial Position - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Non-current assets | ||
Property, plant and equipment | ¥ 99,437 | ¥ 180,104 |
Investment properties | 653 | 724 |
Right-of-use assets | 128,704 | |
Prepayments for land use rights | 1,387 | |
Intangible assets | 11,698 | 11,609 |
Advanced payments on acquisition of aircraft | 16,222 | 21,942 |
Investments in associates | 1,977 | 1,696 |
Investments in joint ventures | 627 | 577 |
Equity investments designated at fair value through other comprehensive income | 1,274 | 1,247 |
Derivative financial instruments | 27 | 222 |
Other non-current assets | 3,970 | 3,370 |
Deferred tax assets | 853 | 207 |
Non-current assets | 265,442 | 223,085 |
Current assets | ||
Flight equipment spare parts | 2,407 | 1,950 |
Trade and notes receivables | 1,717 | 1,436 |
Financial asset at fair value through profit or loss | 121 | 96 |
Prepayments and other receivables | 14,093 | 11,776 |
Derivative financial instruments | 43 | 1 |
Restricted bank deposits and short-term bank deposits | 6 | 16 |
Cash and cash equivalents | 1,350 | 646 |
Assets classified as held for sale | 6 | 11 |
Current assets | 19,743 | 15,932 |
Current liabilities | ||
Trade and bills payables | 3,877 | 4,040 |
Contract liabilities | 10,178 | 8,811 |
Other payables and accruals | 22,602 | 21,143 |
Current portion of lease liabilities | 15,590 | |
Current portion of obligations under finance leases | 9,364 | |
Current portion of borrowings | 25,233 | 29,259 |
Income tax payable | 351 | 273 |
Current portion of provision for lease return costs for aircraft and engines | 519 | 145 |
Derivative financial instruments | 13 | 29 |
Current liabilities | 78,363 | 73,064 |
Net current liabilities | (58,620) | (57,132) |
Total assets less current liabilities | 206,822 | 165,953 |
Non-current liabilities | ||
Lease liabilities | 94,685 | |
Obligations under finance leases | 68,063 | |
Borrowings | 26,604 | 25,867 |
Provision for lease return costs for aircraft and engines | 6,659 | 2,761 |
Contract liabilities | 1,499 | 1,585 |
Derivative financial instruments | 10 | |
Post-retirement benefit obligations | 2,419 | 2,544 |
Other long-term liabilities | 2,278 | 3,448 |
Deferred tax liabilities | 22 | 84 |
Non-current liabilities | 134,176 | 104,352 |
Net assets | 72,646 | 61,601 |
Equity attributable to the equity holders of the Company | ||
- Share capital | 16,379 | 14,467 |
- Reserves | 52,629 | 43,541 |
Equity attributable to the equity holders of the Company | 69,008 | 58,008 |
Non-controlling interests | 3,638 | 3,593 |
Total equity | ¥ 72,646 | ¥ 61,601 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity - CNY (¥) ¥ in Millions | Total | Share Capital [Member] | Other Reserves [Member] | Retained Profits [member] | Attributable to Equity Holders of the Company [Member] | Non-controlling Interests [Member] |
Beginning balance at Dec. 31, 2016 | ¥ 52,366 | ¥ 14,467 | ¥ 26,199 | ¥ 8,784 | ¥ 49,450 | ¥ 2,916 |
Profit for the year | 6,810 | 6,342 | 6,342 | 468 | ||
Other comprehensive income | 284 | 277 | 277 | 7 | ||
Total comprehensive income for the year | 7,094 | 277 | 6,342 | 6,619 | 475 | |
Final 2016/2017 dividend | (709) | (709) | (709) | |||
Disposal of a subsidiary | 87 | 87 | ||||
Dividend paid to non-controlling interests | (60) | (60) | ||||
Transfer from retained profits | 212 | (212) | ||||
Ending balance at Dec. 31, 2017 | 58,778 | 14,467 | 26,688 | 14,205 | 55,360 | 3,418 |
Effect of adoption of IFRS | Increase (decrease) due to application of IFRS 9 [member] | 645 | 667 | (22) | 645 | ||
Effect of adoption of IFRS | Increase (decrease) due to application of IFRS 15 [member] | 386 | 383 | 383 | 3 | ||
Restated balance at Dec. 31, 2017 | 59,809 | 14,467 | 27,355 | 14,566 | 56,388 | 3,421 |
Profit for the year | 2,930 | 2,698 | 2,698 | 232 | ||
Other comprehensive income | (343) | (340) | (340) | (3) | ||
Total comprehensive income for the year | 2,587 | (340) | 2,698 | 2,358 | 229 | |
Final 2016/2017 dividend | (738) | (738) | (738) | |||
Dividend paid to non-controlling interests | (57) | (57) | ||||
Transfer from retained profits | 30 | (30) | ||||
Ending balance at Dec. 31, 2018 | 61,601 | 14,467 | 27,045 | 16,496 | 58,008 | 3,593 |
Effect of adoption of IFRS | Increase (decrease) due to application of IFRS 16 [member] | (1,758) | 0 | 0 | (1,595) | (1,595) | (163) |
Restated balance at Dec. 31, 2018 | 59,843 | 14,467 | 27,045 | 14,901 | 56,413 | 3,430 |
Profit for the year | 3,480 | 3,192 | 3,192 | 288 | ||
Other comprehensive income | (47) | (51) | (51) | 4 | ||
Total comprehensive income for the year | 3,433 | (51) | 3,192 | 3,141 | 292 | |
Issue of shares | 9,442 | 1,912 | 7,530 | 9,442 | ||
Dividend paid to non-controlling interests | (84) | (84) | ||||
Transfer from retained profits | 212 | (212) | ||||
Others | 12 | 11 | 1 | 12 | ||
Ending balance at Dec. 31, 2019 | ¥ 72,646 | ¥ 16,379 | ¥ 34,747 | ¥ 17,882 | ¥ 69,008 | ¥ 3,638 |
Consolidated Statement of Cha_2
Consolidated Statement of Changes in Equity (Parenthetical) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Statement of changes in equity [abstract] | ||
Consolidated reserves | ¥ 52,629 | ¥ 43,541 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash flows from operating activities | |||
Cash generated from operations | ¥ 30,137 | ¥ 24,047 | ¥ 21,108 |
Income tax paid | (1,165) | (1,709) | (1,536) |
Net cash flows from operating activities | 28,972 | 22,338 | 19,572 |
Cash flows from investing activities | |||
Additions to property, plant and equipment and other non-current assets | (7,589) | (26,194) | (24,689) |
Advance from disposal of prepayments for land use rights | 269 | ||
Investment in associates | (47) | ||
Investment in joint ventures | (110) | (16) | (17) |
(Net) proceeds from disposal of a subsidiary | (90) | (11) | 1,897 |
Proceeds from disposal of property, plant and equipment | 157 | 5,493 | 1,043 |
Proceeds from novation of purchase rights | 2,366 | 7,483 | |
Proceeds from disposal of intangible assets | 2 | 1 | 1 |
Proceeds from disposal of an equity investment | 5 | ||
Proceeds from disposal of available-for-sale investments | 5 | ||
Proceeds from disposal of investment in an associate | 0 | 12 | |
Proceeds from disposal of prepayments for land use rights | 158 | 3 | |
Decrease in restricted and short-term bank deposits | 3 | ||
Interest received | 71 | 111 | |
Dividends received | 241 | 252 | 97 |
Settlement relating to derivative financial instruments | 104 | 1 | |
Loan to a joint venture | (20) | ||
Proceeds from repayment of loans to a joint venture | 15 | 2 | |
Net cash flows used in investing activities | (4,899) | (12,780) | (21,312) |
Cash flows from financing activities | |||
Proceeds from issue of shares | 9,442 | ||
Proceeds from draw-down of short-term bank loans | 6,986 | 19,144 | 33,629 |
Proceeds from draw-down of long-term bank loans | 300 | 8,000 | |
Proceeds from issuance of short-term debentures | 39,000 | 31,000 | 29,000 |
Proceeds from issuance of long-term debentures and bonds | 7,755 | 2,938 | 2,450 |
Proceeds from draw-down of other financing activities | 0 | 10,693 | 12,320 |
Repayments of short-term bank loans | (12,868) | (36,066) | (18,383) |
Repayments of long-term bank loans | (4,033) | (7,592) | (3,246) |
Repayments of short-term debentures | (35,000) | (26,500) | (36,000) |
Repayments of long-term debentures and bonds | (5,567) | ||
Repayments of principal of lease liabilities | (23,895) | ||
Repayments of principal of finance lease obligations | (9,629) | (10,587) | |
Interest paid | (5,494) | (4,359) | (3,706) |
Settlement relating to derivative financial instruments | 82 | (392) | |
Dividends paid | (738) | (709) | |
Dividends paid to non-controlling interests of subsidiaries | (83) | (57) | (60) |
Net cash flows (used in)/from financing activities | (23,375) | (13,558) | 4,708 |
Net increase/(decrease) in cash and cash equivalents | 698 | (4,000) | 2,968 |
Cash and cash equivalents at beginning of year | 646 | 4,616 | 1,695 |
Effect of foreign exchange rate changes, net | 6 | 30 | (47) |
Cash and cash equivalents at December 31 | ¥ 1,350 | ¥ 646 | ¥ 4,616 |
Corporate and Group Information
Corporate and Group Information | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Corporate and Group Information | 1 CORPORATE AND GROUP INFORMATION China Eastern Airlines Corporation Limited (the “Company”), a joint stock company limited by shares, was established in the People’s Republic of China (the “PRC”) on April 14, 1995. The address of the Company’s registered office is 66 Airport Street, Pudong International Airport, Shanghai, the PRC. The Company and its subsidiaries (together, the “Group”) are principally engaged in the operation of civil aviation, including the provision of passenger, cargo, mail delivery, tour operations and other extended transportation services. In the opinion of the directors, the holding company and ultimate holding company of the Company is China Eastern Air Holding Company Limited (“CEA Holding”), formerly named as China Eastern Air Holding Company, a state-owned enterprise established in the PRC. The A shares, H shares and American Depositary Shares are listed on the Shanghai Stock Exchange, The Stock Exchange of Hong Kong Limited and The New York Stock Exchange, respectively. These financial statements were approved and authorized for issue by the Company’s Board of Directors (the “Board”) on April 29, 2020. Information about subsidiaries Particulars of the Company’s principal subsidiaries at the end of the reporting period are as follows: Name Place and date of Issued ordinary/ registered share Percentage of place of business capital Direct Indirect Principal activities million China Eastern Airlines Jiangsu Co., Ltd. (“CEA Jiangsu”) PRC/Mainland China April 7, 1993 RMB2,000 62.56 % — Provision of airline services China Eastern Airlines Wuhan Co., Ltd. (“CEA Wuhan”) PRC/Mainland China August 16, 2002 RMB1,750 60 % — Provision of airline services Shanghai Eastern Flight Training Co., Ltd. (“Shanghai Flight Training”) PRC/Mainland China December 18, 1995 RMB694 100 % — Provision of flight training services Shanghai Airlines Co., Ltd. (“Shanghai Airlines”) PRC/Mainland China March 16, 2010 RMB500 100 % — Provision of airline services China Eastern Airlines Technology Co., Ltd. (“Eastern Technology”) PRC/Mainland China November 19, 2014 RMB4,300 100 % — Provision of airline maintenance services One two three Airlines Co., Ltd. (“OTT Airlines”) (Originally named Eastern Business Airlines Co., Ltd.) PRC/Mainland China September 27, 2008 RMB1,500 100 % — Provision of business aviation services China Eastern Airlines Yunnan Co., Ltd. (“CEA Yunnan”) PRC/Mainland China August 2, 2011 RMB3,662 90.36 % — Provision of airline services Eastern Air Overseas (Hong Kong) Co., Ltd. (“Eastern Air Overseas”) Hong Kong June 10, 2011 HKD280 100 % — Provision of import and export, investment, leasing and consultation services China United Airlines Co., Ltd. (“China United Airlines”) PRC/Mainland China September 21, 1984 RMB1,320 100 % — Provision of airline services Eastern Airlines Hotel Co., Ltd. PRC/Mainland China March 18, 1998 RMB70 100 % — Provision of hotel services primarily to crew China Eastern Airlines Application Development Center Co., Ltd. (“Application Development Center”) PRC/Mainland China November 21, 2011 RMB498 100 % — Provision of research and development of technology and products in the field of aviation China Eastern Airlines E-Commerce Co., Ltd. (“Eastern E-Commerce”) PRC/Mainland China December 1, 2014 RMB50 100 % — E-commerce platform and ticket agent The above table lists the subsidiaries of the Company which, in the opinion of the directors, principally affected the results for the year or formed a substantial portion of the net assets of the Group. To give details of other subsidiaries would, in the opinion of the directors, result in particulars of excessive length. All of the subsidiaries of the Company listed above are limited liability companies. |
Basis of Preparation
Basis of Preparation | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Basis of Preparation | 2.1 BASIS OF PREPARATION These financial statements have been prepared in accordance with all applicable International Financial Reporting Standards (“IFRSs”) issued by the International Accounting Standards Board (“IASB”) and the disclosure requirements of the Hong Kong Companies Ordinance. They have been prepared under the historical cost convention, except for certain equity investments and derivative financial instruments which have been measured at fair value. Disposal groups held for sale are stated at the lower of their carrying amounts and fair values less costs to sell as further explained in Note 2.4. These financial statements are presented in Renminbi (“RMB”) and all values are rounded to the nearest million except when otherwise indicated. Basis of consolidation The consolidated financial statements include the financial statements of the Company and its subsidiaries for the year ended December 31, 2019. A subsidiary is an entity (including a structured entity), directly or indirectly, controlled by the Company. Control is achieved when the Group is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee (i.e., existing rights that give the Group the current ability to direct the relevant activities of the investee). When the Company has, directly or indirectly, less than a majority of the voting or similar rights of an investee, the Group considers all relevant facts and circumstances in assessing whether it has power over an investee, including: (a) the contractual arrangement with the other vote holders of the investee; (b) rights arising from other contractual arrangements; and (c) the Group’s voting rights and potential voting rights. The financial statements of the subsidiaries are prepared for the same reporting period as the Company, using consistent accounting policies. The results of subsidiaries are consolidated from the date on which the Group obtains control, and continue to be consolidated until the date that such control ceases. Profit or loss and each component of other comprehensive income are attributed to the owners of the parent of the Group and to the non-controlling non-controlling The Group reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control described above. A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction. If the Group loses control over a subsidiary, it derecognizes (i) the assets (including goodwill) and liabilities of the subsidiary, (ii) the carrying amount of any non-controlling Going concern As at December 31, 2019, the Group’s current liabilities exceeded its current assets by approximately RMB58.62 billion. In preparing the financial statements, the Board has conducted a detailed review over the Group’s going concern ability based on the current financial situation. The Board has considered the Group’s available sources of funds as follows: • Unutilized banking facilities of approximately RMB50.06 billion as at December 31, 2019; • Other available sources of financing from banks and other financial institutions given the Group’s credit history; and • The Group’s expected net cash inflows from operating activities in 2020. The Board considers that the Group will be able to obtain sufficient financing to enable it to operate, as well as to meet its liabilities as and when they become due, and the capital expenditure requirements for the upcoming twelve months. Accordingly, the Board believes that it is appropriate to prepare these financial statements on a going concern basis without including any adjustments that would be required should the Company and the Group fail to continue as a going concern. |
Changes in Accounting Policies
Changes in Accounting Policies and Disclosures | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Changes in Accounting Policies and Disclosures | 2.2 CHANGES IN ACCOUNTING POLICIES AND DISCLOSURES The Group has adopted the following new and revised IFRSs for the first time for the current year’s financial statements. Amendments to IFRS 9 Prepayment Features with Negative Compensation IFRS 16 Leases Amendments to IAS 19 Plan Amendment, Curtailment or Settlement Amendments to IAS 28 Long-term Interests in Associates and Joint Ventures IFRIC 23 Uncertainty over Income Tax Treatments Annual Improve ments Amendments to IFRS 3, IFRS 11, IAS 12 and IAS 23 2015-2017 Cycle Other than as explained below regarding the impact of IFRS 16 and IFRIC 23, the adoption of the above new and revised standards has had no significant financial effect on these financial statements. (a) IFRS 16 replaces IAS 17 Leases Determining whether an Arrangement contains a Lease SIC-15 Operating Leases-Incentives SIC-27 Evaluating the Substance of Transactions Involving the Legal Form of a Lease. on-balance right-of-use For a sublease arrangement, the classification of the sublease is made by reference to the right-of-use asset arising from the head lease, instead of by reference to the underlying asset. The Group has adopted IFRS 16 using the modified retrospective method with the date of initial application of January 1, 2019. Under this method, the standard has been applied retrospectively with the cumulative effect of initial adoption recognized as an adjustment to the opening balance of retained profits at January 1, 2019, and the comparative information for 2018 was not restated and continued to be reported under IAS 17 and related interpretations. New definition of a lease Under IFRS 16, a contract is, or contains, a lease if the contract conveys a right to control the use of an identified asset for a period of time in exchange for consideration. Control is conveyed where the customer has both the right to obtain substantially all of the economic benefits from use of the identified asset and the right to direct the use of the identified asset. The Group elected to use the transition practical expedient allowing the standard to be applied only to contracts that were previously identified as leases applying IAS 17 and IFRIC 4 at the date of initial application. Contracts that were not identified as leases under IAS 17 and IFRIC 4 were not reassessed. Therefore, the definition of a lease under IFRS 16 has been applied only to contracts entered into or changed on or after January 1, 2019. As a lessee – Leases previously classified as operating leases Nature of the effect of adoption of IFRS 16 The Group has lease contracts for various items of aircraft, engines, buildings and other equipment. As a lessee, the Group previously classified leases as either finance leases or operating leases based on the assessment of whether the lease transferred substantially all the rewards and risks of ownership of assets to the Group. Under IFRS 16, the Group applies a single approach to recognize and measure right-of-use low-value lease-by-lease right-of-use Impact on transition Lease liabilities at January 1, 2019 were recognized based on the present value of the remaining lease payments, discounted using the incremental borrowing rate at January 1, 2019 and included in lease liabilities For aircraft and engine leases, the right-of-use right-of-use All these assets were assessed for any impairment based on IAS 36 on that date. The Group elected to present the right-of-use The Group has used the following elective practical expedients when applying IFRS 16 at January 1, 2019: • Applying the short-term lease exemptions to leases with a lease term that ends within 12 months from the date of initial application • Using hindsight in determining the lease term where the contract contains options to extend/terminate the lease • Applying a single discount rate to a portfolio of leases with reasonably similar characteristics • Relying on the entity’s assessment of whether leases were onerous by applying IAS 37 immediately before January 1, 2019 as an alternative to performing an impairment review • Excluding initial direct costs from the measurement of the right-of-use As a lessee – Leases previously classified as finance leases The Group did not change the initial carrying amounts of recognized assets and liabilities at the date of initial application for leases previously classified as finance leases. Accordingly, the carrying amounts of the right-of-use Financial impact at January 1, 2019 The impacts arising from the adoption of IFRS 16 at January 1, 2019 was as follows: Increase/(decrease) RMB million Assets Increase in right-of-use 128,312 Decrease in property, plant and equipment (94,416 ) Decrease in prepayments for land use rights (1,387 ) Decrease in prepayments and other receivables (403 ) Increase in deferred tax assets 470 Increase in total assets 32,576 Liabilities Increase in lease liabilities 109,306 Increase in provision for lease return costs for aircraft and engines 3,654 Decrease in obligations under finance leases (77,427 ) Decrease in other long-term liabilities (1,115 ) Decrease in deferred tax liabilities (84 ) Increase in total liabilities 34,334 Decrease in retained profits (1,595 ) Decrease in non-controlling (163 ) The lease liabilities as at January 1, 2019 reconciled to the operating lease commitments as at December 31, 2018 are as follows: RMB million Operating lease commitments as at December 31, 2018 37,278 Less: Commitments relating to short-term leases and those leases with a remaining lease term ended on or before December 31, 2019 (206 ) Commitments relating to leases of low-value (1 ) 37,071 Weighted average incremental borrowing rate as at January 1, 2019 4.09 % Discounted operating lease commitments as at January 1, 2019 31,879 Add: Obligations under finance leases recognized as at December 31, 2018 77,427 Lease liabilities as at January 1, 2019 109,306 (b) IFRIC 23 addresses the accounting for income taxes (current and deferred) when tax treatments involve uncertainty that affects the application of IAS 12 (often referred to as “uncertain tax positions”). The interpretation does not apply to taxes or levies outside the scope of IAS 12, nor does it specifically include requirements relating to interest and penalties associated with uncertain tax treatments. The interpretation specifically addresses (i) whether an entity considers uncertain tax treatments separately; (ii) the assumptions an entity makes about the examination of tax treatments by taxation authorities; (iii) how an entity determines taxable profits or tax losses, tax bases, unused tax losses, unused tax credits and tax rates; and (iv) how an entity considers changes in facts and circumstances. Upon adoption of the interpretation, the Group considered whether it has any uncertain tax positions arising from the transfer pricing on its intergroup sales. Based on the Group’s tax compliance and transfer pricing study, the Group determined that it is probable that its transfer pricing policy will be accepted by the tax authorities. Accordingly, the interpretation did not have any impact on the financial position or performance of the Group. |
Issued but not yet Effective In
Issued but not yet Effective International Financial Reporting Standards | 12 Months Ended |
Dec. 31, 2019 | |
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Issued but not yet Effective International Financial Reporting Standards | 2.3 ISSUED BUT NOT YET EFFECTIVE INTERNATIONAL FINANCIAL REPORTING STANDARDS The Group has not applied the following new and revised IFRSs, that have been issued but are not yet effective, in these financial statements. Amendments to IFRS 3 Definition of a Business 1 Amendments to IFRS 9, IAS 39 and IFRS 7 Interest Rate Benchmark Reform 1 Amendments to IFRS 10 and IAS 28 Sale or Contribution of Assets between an Investor and its Associate or Joint Venture 3 IFRS 17 Insurance Contracts 2 Amendments to IAS 1 and IAS 8 Definition of Material 1 1 Effective for annual periods beginning on or after January 1, 2020 2 Effective for annual periods beginning on or after January 1, 2021 3 No mandatory effective date yet determined but available for adoption Further information about these IFRSs that are expected to be applicable to the Group is described below: Amendments to IFRS 3 clarify and provide additional guidance on the definition of a business. The amendments clarify that for an integrated set of activities and assets to be considered a business, it must include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create output. A business can exist without including all of the inputs and processes needed to create outputs. The amendments remove the assessment of whether market participants are capable of acquiring the business and continue to produce outputs. Instead, the focus is on whether acquired inputs and acquired substantive processes together significantly contribute to the ability to create outputs. The amendments have also narrowed the definition of outputs to focus on goods or services provided to customers, investment income or other income from ordinary activities. Furthermore, the amendments provide guidance to assess whether an acquired process is substantive and introduce an optional fair value concentration test to permit a simplified assessment of whether an acquired set of activities and assets is not a business. The Group expects to adopt the amendments prospectively from January 1, 2020. Since the amendments apply prospectively to transactions or other events that occur on or after the date of first application, the Group will not be affected by these amendments on the date of transition. Amendments to IFRS 9, IAS 39 and IFRS 7 address the effects of interbank offered rate reform on financial reporting. The amendments provide temporary reliefs which enable hedge accounting to continue during the period of uncertainty before the replacement of an existing interest rate benchmark. In addition, the amendments require companies to provide additional information to investors about their hedging relationships which are directly affected by these uncertainties. The amendments are effective for annual periods beginning on or after January 1, 2020. Early application is permitted. The amendments are not expected to have any significant impact on the Group’s financial statements. Amendments to IFRS 10 and IAS 28 address an inconsistency between the requirements in IFRS 10 and in IAS 28 in dealing with the sale or contribution of assets between an investor and its associate or joint venture. The amendments require a full recognition of a gain or loss when the sale or contribution of assets between an investor and its associate or joint venture constitutes a business. For a transaction involving assets that do not constitute a business, a gain or loss resulting from the transaction is recognized in the investor’s profit or loss only to the extent of the unrelated investor’s interest in that associate or joint venture. The amendments are to be applied prospectively. The IASB has deferred the effective date of these amendments indefinitely, but an entity that early adopts the amendments must apply them prospectively. The Group will apply these amendments when they become effective. Amendments to IAS 1 and IAS 8 provide a new definition of material. The new definition states that information is material if omitting, misstating or obscuring it could reasonably be expected to influence decisions that the primary users of general purpose financial statements make on the basis of those financial statements. The amendments clarify that materiality will depend on the nature or magnitude of information. A misstatement of information is material if it could reasonably be expected to influence decisions made by the primary users. The Group expects to adopt the amendments prospectively from January 1, 2020. The amendments are not expected to have any significant impact on the Group’s financial statements. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
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Summary of Significant Accounting Policies | 2.4 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The Group initial applied IFRS 9 Financial Instruments Revenue from Contracts with Customers Leases Segmental reporting Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker (“CODM”). The CODM, who is responsible for allocating resources and assessing performance of the operating segments, has been identified as the office of the General Manager that makes strategic decisions. Investments in associates and joint ventures An associate is an entity in which the Group has a long-term interest of generally not less than 20% of the equity voting rights and over which it is in a position to exercise significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee, but is not control or joint control over those policies. A joint venture is a type of joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the joint venture. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. The Group’s investments in associates and joint ventures are stated in the consolidated statement of financial position at the Group’s share of net assets under the equity method of accounting, less any impairment losses. Adjustments are made to bring into line any dissimilar accounting policies that may exist. The Group’s share of the post-acquisition results and other comprehensive income of associates and joint ventures is included in the consolidated statement of profit or loss and other comprehensive income. In addition, when there has been a change recognized directly in the equity of the associate or joint venture, the Group recognizes its share of any changes, when applicable, in the consolidated statement of changes in equity. Unrealized gains and losses resulting from transactions between the Group and its associates or joint ventures are eliminated to the extent of the Group’s investments in the associates or joint ventures, except where unrealized losses provide evidence of an impairment of the asset transferred. Goodwill arising from the acquisition of associates or joint ventures is included as part of the Group’s investments in associates or joint ventures. If an investment in an associate becomes an investment in a joint venture or vice versa, the retained interest is not remeasured. Instead, the investment continues to be accounted for under the equity method. In all other cases, upon loss of significant influence over the associate or joint control over the joint venture, the Group measures and recognizes any retained investment at its fair value. Any difference between the carrying amount of the associate or joint venture upon loss of significant influence or joint control and the fair value of the retained investment and proceeds from disposal is recognized in profit or loss. When an investment in an associate or a joint venture is classified as held for sale, it is accounted for in accordance with IFRS 5 Non-current Foreign currencies (i) Functional currency Items included in the financial statements of each of the Group’s entities are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). The financial statements are presented in “RMB”, which is the Company’s functional currency. (ii) Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in profit or loss within “finance income” or “finance costs”. Revenue recognition (applicable from January 1, 2018) Revenue from contracts with customers Revenue from contracts with customers is recognized when control of goods or services is transferred to the customers at an amount that reflects the consideration to which the Group expects to be entitled in exchange for those goods or services. When the consideration in a contract includes a variable amount, the amount of consideration is estimated to which the Group will be entitled in exchange for transferring the goods or services to the customer. The variable consideration is estimated at contract inception and constrained until it is highly probable that a significant revenue reversal in the amount of cumulative revenue recognized will not occur when the associated uncertainty with the variable consideration is subsequently resolved. When the contract contains a financing component which provides the customer with a significant benefit of financing the transfer of goods or services to the customer for more than one year, revenue is measured at the present value of the amount receivable, discounted using the discount rate that would be reflected in a separate financing transaction between the Group and the customer at contract inception. When the contract contains a financing component which provides the Group with a significant financial benefit for more than one year, revenue recognized under the contract includes the interest expense accreted on the contract liability under the effective interest method. For a contract where the period between the payment by the customer and the transfer of the promised goods or services is one year or less, the transaction price is not adjusted for the effects of a significant financing component, using the practical expedient in IFRS 15. (a) Passenger, cargo and mail revenues are recognized as traffic revenue when the transportation is provided or when ticket breakage occurs. The value of sold but unused tickets is included in contract liabilities as sales in advance of carriage (“SIAC”). The Group estimates the value of passenger ticket breakage based on historical trends and experience and recognizes revenue at the scheduled flight date. (b) Revenues from the provision of ground services, tour services, ticket cancellation services and other travel related services are recognized when the services are rendered. (c) Commission income represents amounts earned from other carriers in respect of sales made by the Group on their behalf, and is recognized upon ticket sales. (d) The Group operates a frequent flyer program called “Eastern Miles” that issues mileage points to program members based on accumulated mileage. The Group defers a portion of passenger revenue attributable to the mileage points issued based on the relative standalone selling price approach and recognizes revenue when the mileage points are redeemed and performance obligations are fulfilled or the mileage points expire unused. The standalone selling price of the mileage points was estimated based on the historical prices of equivalent flights and goods provided for mileage points redeemed and was adjusted for mileage points that are not expected to be redeemed (“mileage points breakage”). (e) Revenue from the sale of goods is recognized at the point in time when control of the asset is transferred to the customer. Revenue from other sources Rental income is recognized on a time proportion basis over the lease terms. Variable lease payments that do not depend on an index or a rate are recognized as income in the accounting period in which they are incurred. Other income Interest income is recognized on an accrual basis using the effective interest method by applying the rate that exactly discounts the estimated future cash receipts over the expected life of the financial instrument or a shorter period, when appropriate, to the net carrying amount of the financial asset. Dividend income is recognized when the shareholders’ right to receive payment has been established, it is probable that the economic benefits associated with the dividend will flow to the Group and the amount of the dividend can be measured reliably. Contract liabilities (applicable from January 1, 2018) A contract liability is recognized when a payment is received or a payment is due (whichever is earlier) from a customer before the Group transfers the related goods or services. Contract liabilities are recognized as revenue when the Group performs under the contract (i.e., transfers control of the related goods or services to the customer). Revenue recognition (applicable before January 1, 2018) Revenue comprises the fair value of the consideration received or receivable for the provision of services and the sale of goods in the ordinary course of the Group’s activities. Revenue is stated net of business taxes or value-added taxes, returns, rebates and discounts and after eliminating sales within the Group. Revenue is recognized when it is probable that the economic benefits will flow to the Group and when the revenue can be measured reliably, on the following basis: (i) Traffic revenues Passenger, cargo and mail revenues are recognized as traffic revenues when the transportation services are provided. The value of sold but unused tickets is recognized as sales in advance of carriage (“SIAC”). (ii) Ground service income and tour operation revenues Revenues from the provision of ground services, tour, travel services and other travel related services are recognized when the services are rendered. (iii) Cargo handling income Revenues from the provision of cargo handling services are recognized when the services are rendered. (iv) Commission income Commission income represents amounts earned from other carriers in respect of sales made by the Group on their behalf, and is recognized in profit or loss upon ticket sales. (v) Other revenue Revenues from other operating businesses, including income derived from the provision of freight forwarding, are recognized when the services are rendered. (vi) Frequent flyer program The Group operates a frequent flyer program that provide travel awards to program members based on accumulated miles. A portion of passenger revenue attributable to the award of frequent flyer benefits is deferred and recognized when the miles have been redeemed or have expired. (vii) Interest income Interest income is recognized on a time-proportion basis using the effective interest rate method. The amount of revenue is not considered to be reliably measurable until all contingencies relating to the sales have been resolved. The Group bases its estimates on historical results, taking into consideration the type of customer, the type of transaction and the specifics of each arrangement. Government grants Grants from the government are recognized at their fair value where there is a reasonable assurance that the grant will be received and the Group will comply with all attached conditions. When the grant relates to an expense item, it is recognized as income on a systematic basis over the periods that the costs, which it is intended to compensate are expensed. Where the grant relates to an asset, the fair value is credited to a deferred income account and is released to profit or loss over the expected useful life of the relevant asset by equal annual instalments. Maintenance and overhaul costs Overhaul costs that meet specific recognition criteria are capitalized as a component of property, plant and equipment or right-of-use assets and are depreciated over the appropriate maintenance cycles. Certain lease arrangements contain provisions that the Group has obligations to fulfill certain return conditions at the end of lease term. The Group estimated lease return costs for aircraft and engines and recognized such costs as part of the right-of-use asset and are depreciated during the lease term (applicable from January 1, 2019). Provision for the estimated leas return costs for aircraft and engines is made on a straight-line basis over the lease term (applicable before January 1, 2019). All other repairs and maintenance costs are charged to profit or loss as and when incurred. Borrowing costs Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, i.e., assets that necessarily take a substantial period of time to get ready for their intended use or sale, are capitalized as part of the cost of those assets. The capitalization of such borrowing costs ceases when the assets are substantially ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs capitalized. All other borrowing costs are expensed in the period in which they are incurred. Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowing of funds. Income tax Income tax comprises current and deferred tax. Income tax relating to items recognized outside profit or loss is recognized outside profit or loss, either in other comprehensive income or directly in equity. Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period, taking into consideration interpretations and practices prevailing in the countries in which the Group operates. Deferred tax is provided, using the liability method, on all temporary differences at the end of the reporting period between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. Deferred tax liabilities are recognized for all taxable temporary differences, except: • when the deferred tax liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; and • in respect of taxable temporary differences associated with investments in subsidiaries, associates and joint ventures, when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future. Deferred tax assets are recognized for all deductible temporary differences, and the carryforward of unused tax credits and any unused tax losses. Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, the carryforward of unused tax credits and unused tax losses can be utilized, except: • when the deferred tax asset relating to the deductible temporary differences arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; and • in respect of deductible temporary differences associated with investments in subsidiaries, associates and joint ventures, deferred tax assets are only recognized to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilized. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Unrecognized deferred tax assets are reassessed at the end of each reporting period and are recognized to the extent that it has become probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax assets and deferred tax liabilities are offset if and only if the Group has a legally enforceable right to set off current tax assets and current tax liabilities and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realize the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered. Business combinations and goodwill Business combinations not under common control are accounted for using the acquisition method. The consideration transferred is measured at the acquisition date fair value which is the sum of the acquisition date fair values of assets transferred by the Group, liabilities assumed by the Group to the former owners of the acquiree and the equity interests issued by the Group in exchange for control of the acquiree. For each business combination, the Group elects whether to measure the non-controlling interests in the acquiree that are present ownership interests and entitle their holders to a proportionate share of net assets in the event of liquidation at fair value or at the proportionate share of the acquiree’s identifiable net assets. All other components of non-controlling interests are measured at fair value. Acquisition-related costs are expensed as incurred. When the Group acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions as at the acquisition date. This includes the separation of embedded derivatives in host contracts of the acquiree. If the business combination is achieved in stages, the previously held equity interest is remeasured at its acquisition date fair value and any resulting gain or loss is recognized in profit or loss. Any contingent consideration to be transferred by the acquirer is recognized at fair value at the acquisition date. Contingent consideration classified as an asset or liability is measured at fair value with changes in fair value recognized in profit or loss. Contingent consideration that is classified as equity is not remeasured and subsequent settlement is accounted for within equity. Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred, the amount recognized for non-controlling interests and any fair value of the Group’s previously held equity interests in the acquiree over the identifiable net assets acquired and liabilities assumed. If the sum of this consideration and other items is lower than the fair value of the net assets acquired, the difference is, after reassessment, recognized in profit or loss as a gain on bargain purchase. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. Goodwill is tested for impairment annually or more frequently if events or changes in circumstances indicate that the carrying value may be impaired. The Group performs its annual impairment test of goodwill as at December 31. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Group’s cash-generating units, or groups of cash-generating units, that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the Group are assigned to those units or groups of units. Impairment is determined by assessing the recoverable amount of the cash-generating unit (group of cash-generating units) to which the goodwill relates. Where the recoverable amount of the cash-generating unit (group of cash-generating units) is less than the carrying amount, an impairment loss is recognized. An impairment loss recognized for goodwill is not reversed in a subsequent period. Where goodwill has been allocated to a cash-generating unit (or group of cash-generating units) and part of the operation within that unit is disposed of, the goodwill associated with the operation disposed of is included in the carrying amount of the operation when determining the gain or loss on the disposal. Goodwill disposed of in these circumstances is measured based on the relative value of the operation disposed of and the portion of the cash-generating unit retained. Intangible assets (other than goodwill) (i) Computer software costs Acquired computer software licenses are capitalized on the basis of the costs incurred to acquire and bring to use the specific software. These costs are amortized using the straight-line method over their estimated useful lives of 5 years. Costs associated with developing or maintaining computer software programs are recognized as expenses when incurred. (ii) Others Others relate to the capitalized costs incurred to acquire the use right of certain flight schedules (i.e. timeslots for flights’ taking off/landing) in Guangzhou Baiyun International Airport Co., Ltd. and Shanghai Pudong International Airport, respectively. These costs are amortized using the straight-line method over their useful lives of 3 years. Deferred pilot recruitment costs Deferred pilot recruitment costs represent the costs borne by the Group in connection with securing a certain minimum period of employment of pilots and are amortized on a straight-line basis over the anticipated beneficial period of 5 years, starting from the date the pilot joins the Group. Related parties A party is considered to be related to the Group if: (a) the party is a person or a close member of that person’s family and that person: (i) has control or joint control over the Group; (ii) has significant influence over the Group; or (iii) is a member of the key management personnel of the Group or of a parent of the Group; or (b) the party is an entity where any of the following conditions applies: (i) the entity and the Group are members of the same group; (ii) one entity is an associate or joint venture of the other entity (or of a parent, subsidiary or fellow subsidiary of the other entity); (iii) the entity and the Group are joint ventures of the same third party; (iv) one entity is a joint venture of a third entity and the other entity is an associate of the third entity; (v) the entity is a post-employment benefit plan for the benefit of employees of either the Group or an entity related to the Group and the sponsoring employers of the post-employment benefit plan; (vi) the entity is controlled or jointly controlled by a person identified in (a); (vii) a person identified in (a)(i) has significant influence over the entity or is a member of the key management personnel of the entity (or of a parent of the entity); and (viii) the entity, or any member of a group of which it is a part, provides key management personnel services to the Group or to the parent of the Group. Property, plant and equipment Property, plant and equipment, other than construction in progress, are stated at cost less accumulated depreciation and any impairment losses. When an item of property, plant and equipment is classified as held for sale or when it is part of a disposal group classified as held for sale, it is not depreciated and is accounted for in accordance with IFRS 5, as further explained in the accounting policy for “Non-current When each major aircraft overhaul is performed, its cost is recognized in the carrying amount of the item of property, plant and equipment and is depreciated over the appropriate maintenance cycles. Components related to airframe overhaul cost, are depreciated on a straight-line basis over 5 to 7.5 years. Components related to engine overhaul costs, are depreciated between each overhaul period using the ratio of actual flying hours and estimated flying hours between overhauls. Upon completion of an overhaul, any remaining carrying amount of the cost of the previous overhaul is derecognized and charged to profit or loss. Except for components related to overhaul costs, the depreciation method of which has been described in the preceding paragraph, other depreciation of property, plant and equipment is calculated using the straight-line method to write off their costs to their residual values over their estimated useful lives, as follows: Owned aircraft and engines 15 to 20 years Other flight equipment, including rotables 10 years Buildings 8 to 45 years Other property, plant and equipment 3 to 20 years Where parts of an item of property, plant and equipment have different useful lives, the cost of that item is allocated on a reasonable basis among the parts and each part is depreciated separately. Residual values, useful lives and the depreciation method are reviewed, and adjusted if appropriate, at least at each financial year end. An item of property, plant and equipment including any significant part initially recognized is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss on disposal or retirement recognized in the statement of profit or loss in the year the asset is derecognized is the difference between the net sales proceeds and the carrying amount of the relevant asset. Construction in progress represents a building under construction, which is stated at cost less any impairment losses, and is not depreciated. Cost comprises the direct costs of construction and capitalized borrowing costs on related borrowed funds during the period of construction. Construction in progress is reclassified to the appropriate category of property, plant and equipment when completed and ready for use. Investment properties Investment properties are interests in land and buildings held to earn rental income and/or for capital appreciation, rather than for use in the production or supply of goods or services or for administrative purposes; or for sale in the ordinary course of business. Such properties are measured initially at cost, including transaction costs. After initial recognition, the Group chooses the cost model to measure all of its investment properties. Depreciation is calculated on the straight-line basis to write off the cost to its residual value over its estimated useful life. The estimated useful lives are as follows: Buildings 30 to 35 years The carrying amounts of investment properties measured using the cost method are reviewed for impairment when events or changes in circumstances indicate that the carrying amounts may not be recoverable. Any gains or losses on the retirement or disposal of an investment property are recognized in profit or loss in the year of the retirement or disposal. Impairment of non-financial Where an indication of impairment exists, or when annual impairment testing for an asset is required (other than inventories, contract assets, deferred tax assets, financial assets, investment properties and non-current An impairment loss is recognized only if the carrying amount of an asset exceeds its recoverable amount. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax An assessment is made at the end of each reporting period as to whether there is an indication that previously recognized impairment losses may no longer exist or may have decreased. If such an indication exists, the recoverable amount is estimated. A previously recognized impairment loss of an asset other than goodwill is reversed only if there has been a change in the estimates used to determine the recoverable amount of that asset, but not to an amount higher than the carrying amount that would have been determined (net of any depreciation/amortization) had no impairment loss been recognized for the asset in prior years. A reversal of such an impairment loss is credited to profit or loss in the period in which it arises, unless the asset is carried at a revalued amount, in which case the reversal of the impairment loss is accounted for in accordance with the relevant accounting policy for that revalued asset. Non-current Non-current non-controlling Non-current Prepayments for land use rights (applicable before January 1, 2019) Prepayments for land use rights under operating leases are initially stated at cost and subsequently recognized on the straight-line basis over the lease terms. Advanced payments on acquisition of aircraft Advanced payments on acquisition of aircraft represent payments to aircraft manufacturers to secure deliveries of aircraft in future years, including attributable borrowing costs, and are included in non-current Flight equipment spare parts Flight equipment spare parts are stated at the lower of cost and net realizable value. Cost is determined using the weighted average method. The cost of flight equipment spare parts comprises the purchase price (net of discounts), freight charges, duty and other miscellaneous charges. Net realizable value is the estimated selling price of the flight equipment spare parts in the ordinary course of business, less applicable selling expenses. Investments and other financial assets (policies under IFRS 9 applicable from January 1, 2018) Initial recognition and measurement Financial assets are classified, at initial recognition, as subsequently measured at amortized cost, fair value through other comprehensive income, and fair value through profit or loss. The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flow characteristics and the Group’s business model for managing them. With the exception of trade receivables that do not contain a significant financing component or for which the Group has applied the practical expedient of not adjusting the effect of a significant financing component, the Group initially measures a financial asset at its fair value, plus in the case of a financial asset not at fair value through profit or loss, transaction costs. Trade receivables that do not contain a significant financing component or for which the Group has applied the practical expedient are measured at the transaction price determined under IFRS 15 in accordance with the policies set out for “Revenue recognition” (applicable from January 1, 2018). In order for a financial asset to be classified and measured at amortized cost or fair value through other comprehensive income, it needs to give rise to cash flows that are solely payments of principal and interest (“SPPI”) on the principal amount outstanding. Financial assets with cash flows that are not SPPI are classified and measured at fair value through profit or loss, irrespective of the business model. The Group’s business model for managing financial assets refers to how it manages its financial assets in order to generate cash flows. The business model determines whether cash flows will result from collecting contractual cash flows, selling the financial assets, or both. Financial assets classified and measured at amortized cost are held within a business model with the objective to hold financial assets in order to collect contractual cash flows, while financial assets classified and measured at fair value through other comprehensive income are held within a business model with the objective of both holding to collect contractual cash flows and selling. Financial assets which are not held within the aforementioned business models are classified and measured at fair value through profit or loss. All regular way purchases and sales of financial assets are recognized on the trade date, that is, the date that the Group commits to purchase or sell the asset. Regular way purchases or sales are purchases or sales of financial assets that require delivery of assets within the period generally established by regulation or convention in the marketplace. Subsequent measurement The subsequent measurement of financial assets depends on their classification as follows: Financial assets at amortized cost (debt instruments) Financial assets at amortized cost are subsequently measured using the effective interest method and are subject to impairment. Gains and losses are recognized in the statement of profit or los |
Significant Accounting Judgemen
Significant Accounting Judgements and Estimates | 12 Months Ended |
Dec. 31, 2019 | |
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Significant Accounting Judgements and Estimates | 3 SIGNIFICANT ACCOUNTING JUDGEMENTS AND ESTIMATES Estimates and judgements used in preparing the financial statements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. (a) Passenger ticket breakage The Group recognizes traffic revenues in accordance with the accounting policy stated in Note 2.4 to the consolidated financial statements. Passenger ticket breakage is recognized as revenue based on estimates. The Group estimates the value of passenger ticket breakage, reduces contract liabilities and recognizes revenue at the scheduled flight date using a portfolio based approach. The breakage rate is estimated and constrained by reference to the historical trend of passenger ticket breakage. (b) Recognition of contract liabilities for frequent flyer program Passenger ticket sales earning mileage points under the Company’s frequent flyer program provide customers with mileage points earned and air transportation. A portion of passenger revenue attributable to the mileage points issued is deferred based on the relative standalone selling price approach. Significant assumptions are used in determining the estimated standalone selling price of mileage points, including the historical prices of equivalent flights and goods provided, which is estimated by reference to the quantitative value a program member receives by redeeming mileage points for flights and goods, and the estimated mileage points breakage. Mileage points breakage is estimated considering historical redemption pattern, current industry and economic trends and other relevant factors. Changes in the significant assumptions could have a significant effect on the balance of contract liabilities for frequent flyer program and the results of operations. (c) Provision for lease return costs for aircraft and engines Provision for lease return costs for aircraft and engines is recognized as part of the right-of-use assets and are depreciated during the lease term. The estimation of the provision is made taking into account anticipated aircraft and engines’ utilization patterns, historical experience of actual return costs incurred and anticipated return costs, which are by reference to historical experience on returning similar airframe models and engines and aircraft return condition. Different judgements or estimates could significantly affect the estimated provision for lease return costs for aircraft and engines. (d) Retirement benefits The Group operates and maintains a defined retirement benefit plan which provides eligible retirees with benefits including retirement subsidies, transportation allowance as well as other welfare. The cost of providing the aforementioned benefits in the defined retirement benefit plan is actuarially determined and recognized over the employee’s service period by utilizing various actuarial assumptions and using the projected unit credit method in accordance with the accounting policy stated in Note 2.4 to the consolidated financial statements. These assumptions include, without limitation, the selection of discount rate, annual rate of increase of per capita benefit payment and etc. The discount rate is based on management’s review of government bonds. The annual rate of increase of benefit payments is based on the general local economic conditions. Additional information regarding the retirement benefit plan is disclosed in Note 4 0 (e) Deferred income tax Deferred tax assets are recognized for unused tax losses and deductible temporary difference to the extent that it is probable that taxable profit will be available against which the losses and deductible temporary difference can be utilized. Significant management judgement is required to determine the amount of deferred tax assets that can be recognized, based upon the likely timing and level of future taxable profits together with future tax planning strategies. (f) Provision for flight equipment spare parts Provision for flight equipment spare parts is made based on the difference between the carrying amount and the net realizable value. The net realizable value is estimated based on current market condition, historical experience and the Company’s future operation plan for the aircraft and related spare parts. The net realizable value may be adjusted significantly due to the change of market condition and the future plan for the aircraft and related spare parts. (g) Depreciation of property, plant and equipment Depreciation of components related to airframe and engine overhaul costs is based on the Group’s historical experience with similar airframe and engine models and taking into account anticipated overhaul costs, timeframe between each overhaul, ratio of actual flying hours and estimated flying hours between overhauls. Different judgements or estimates could significantly affect the estimated depreciation charge and the results of operations. Except for components related to engine overhaul costs, other property, plant and equipment are depreciated on a straight-line basis over the estimated useful lives, after taking into account the estimated residual value. The useful lives are based on the Group’s historical experience with similar assets and taking into account anticipated technological changes. The Group reviews the estimated useful lives of assets regularly in order to determine the amount of depreciation expense to be recorded during any reporting period. The depreciation expense for future periods is adjusted if there are significant changes from previous estimates. (h) Estimated impairment of property, plant and equipment and intangible assets The Group tests whether property, plant and equipment and intangible assets have been impaired in accordance with the accounting policy stated in Note 2.4 to the consolidated financial statements. The recoverable amount of the cash-generating unit has been determined based on fair value less cost to sell and value-in-use Value-in-use (i) Impairment of goodwill The Group determines whether goodwill is impaired at least on an annual basis. This requires an estimation of the value in use of the cash-generating unit to which the goodwill is allocated. Estimating the value in use requires the Group to make an estimate of the expected future cash flows from the cash-generating unit and also to choose a suitable discount rate in order to calculate the present value of those cash flows. (j) Fair value of unlisted equity investments The unlisted equity investments have been valued based on a market-based valuation technique as detailed in Note 5 0 e (k) Leases – Estimating the incremental borrowing rate (applicable from January 1, 2019) The Group cannot readily determine the interest rate implicit in a lease, and therefore, it uses an incremental borrowing rate (“IBR”) to measure lease liabilities. The IBR is the rate of interest that the Group would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use |
Operating Segment Information
Operating Segment Information | 12 Months Ended |
Dec. 31, 2019 | |
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Operating Segment Information | 4 OPERATING SEGMENT INFORMATION (a) CODM, office of the General Manager, reviews the Group’s internal reporting in order to assess performance and allocate resources. The Group has one reportable operating segment, reported as “airline transportation operations”, which comprises the provision of passenger, cargo, mail delivery, ground service and cargo handling services. Other services including primarily tour operations, air catering and other miscellaneous services are not included within the airline transportation operations segment, as their internal reports are separately provided to the CODM. The results of these operations are included in the “other segments” column. Inter-segment transactions are entered into under normal commercial terms and conditions that would be available to unrelated third parties. In accordance with IFRS 8, segment disclosure has been presented in a manner that is consistent with the information used by the Group’s CODM. The Group’s CODM monitors the results, assets and liabilities attributable to each reportable segment based on financial results prepared under the PRC Accounting Standards for Business Enterprises (the “PRC Accounting Standards”), which differ from IFRSs in certain aspects. The amount of each material reconciling items from the Group’s reportable segment revenues and profit before income tax, arising from different accounting policies are set out in Note 4(c) below. The segment results for the year ended December 31, 2019 were as follows: Airline transportation operations RMB million Other segments RMB Eliminations Unallocated* Total Segment revenue Reportable segment revenue from external customers 119,240 1,620 — — 120,860 Inter-segment sales — 2,052 (2,052 ) — — Reportable segment revenue 119,240 3,672 (2,052 ) — 120,860 Reportable segment profit before income tax 2,745 1,164 — 393 4,302 Other segment information Depreciation and amortization 21,816 261 — — 22,077 Impairment charges / Impairment losses on financial assets, net 20 — — — 20 Interest income 108 1 (13 ) — 96 Interest expense 5,152 30 (13 ) — 5,169 Capital expenditure 42,853 303 — — 43,156 The segment results for the year ended December 31, 2018 were as follows: Airline RMB million Other RMB million Eliminations RMB million Unallocated* RMB million Total RMB million Segment revenue Reportable segment revenue from external customers 112,228 2,702 — — 114,930 Inter-segment sales — 1,425 (1,425 ) — — Reportable segment revenue 112,228 4,127 (1,425 ) — 114,930 Reportable segment profit before income tax 2,723 622 — 522 3,867 Other segment information Depreciation and amortization 15,051 251 — — 15,302 Impairment charges/ Impairment losses on financial assets, net 338 7 — — 345 Interest income 118 1 (9 ) — 110 Interest expense 3,721 15 (9 ) — 3,727 Capital expenditure* 30,670 508 — — 31,178 * Capital expenditure consists of additions to property, plant and equipment, right-of-use assets, construction in process, investment properties, intangible assets and long-term deferred assets. The segment assets and liabilities as at December 31, 2019 and December 31, 2018 were as follows: Airline RMB million Other RMB million Eliminations RMB million Unallocated* RMB million Total RMB million At December 31, 2019 Reportable segment assets 274,578 6,225 (1,943 ) 4,076 282,936 Reportable segment liabilities 211,035 3,146 (1,943 ) 301 212,539 At December 31, 2018 Reportable segment assets 230,533 4,635 (2,248 ) 3,845 236,765 Reportable segment liabilities 176,836 2,712 (2,248 ) 113 177,413 * Unallocated assets primarily represent investments in associates and joint ventures, derivative financial instruments, equity investments designated at fair value through other comprehensive income and a financial asset at fair value through profit or loss. Unallocated results primarily represent the share of results of associates and joint ventures, fair value changes of derivative financial instruments, fair value changes of a financial asset at fair value through profit or loss and dividend income relating to equity investments. (b) The Group’s business operates in three main geographical areas, even though they are managed on a worldwide basis. The Group’s revenues by geographical area are analyzed based on the following criteria: 1) Traffic revenue from services within Mainland China (the PRC excluding the Hong Kong Special Administrative Region (“Hong Kong”), Macau Special Administrative Region (“Macau”) and Taiwan, collectively known as “Regional”) is classified as domestic operations. Traffic revenue from inbound and outbound services between overseas markets excluding Regional is classified as international operations. 2) Revenue from ticket handling services, ground services, cargo handling service and other miscellaneous services is classified on the basis of where the services are performed. 2019 2018 2017 RMB million RMB million RMB million Domestic (the PRC, excluding Hong Kong, Macau and Taiwan) 80,058 76,517 67,923 International 37,082 34,744 3,624 Regional (Hong Kong, Macau and Taiwan) 3,846 4,017 30,928 Total 120,986 115,278 102,475 3) The major revenue-earning assets of the Group are its aircraft, all of which are registered in the PRC. Since the Group’s aircraft are deployed flexibly across its route network, there is no suitable basis of allocating such assets and the related liabilities by geographic area and hence segment non-current non-current (c) Reconciliation of reportable segment revenues, profit, assets and liabilities to the consolidated figures as reported in the consolidated financial statements: 2019 2018 2017 Note RMB million RMB million RMB million Revenue Reportable segment revenue 120,860 114,930 101,721 - Reclassification of expired sales in advance of carriage (i) — — 357 - Reclassification of taxes relating to the expired tickets (i) 126 348 397 Consolidated revenue 120,986 115,278 102,475 2019 2018 2017 Note RMB million RMB million RMB million Profit before income tax Reportable segment profit before income tax 4,302 3,867 8,620 - Differences in depreciation charges for aircraft and engines due to different depreciation lives (ii) (3 ) (11 ) (10 ) Consolidated profit before income tax 4,299 3,856 8,610 2019 2018 Notes RMB million RMB million Assets Reportable segment assets 282,936 236,765 - Differences in depreciation charges for aircraft and engines due to different depreciation lives (ii) 7 10 - Difference in intangible asset arising from the acquisition of Shanghai Airlines (iii) 2,242 2,242 Consolidated assets 285,185 239,017 2019 2018 RMB million RMB million Liabilities Reportable segment liabilities 212,539 177,413 - Others — 3 Consolidated liabilities 212,539 177,416 Notes: (i) The difference represents the different classification of sales related taxes under the PRC Accounting Standards and IFRSs. (ii) The difference is attributable to the differences in the useful lives and residual values of aircraft and engines adopted for depreciation purposes in prior years under the PRC Accounting Standards and IFRSs. Despite the depreciation policies of these assets which have been unified under IFRSs and the PRC Accounting Standards in recent years, the changes were applied prospectively as changes in accounting estimates which result in the differences in the carrying amounts and related depreciation charges under IFRSs and the PRC Accounting Standards. (iii) The difference represents the different measurement of the fair value of acquisition cost of the shares from Shanghai Airlines between the PRC Accounting standards and IFRSs, which results in the different measurement of goodwill. |
Revenues
Revenues | 12 Months Ended |
Dec. 31, 2019 | |
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Revenues | 5 REVENUE An analysis of revenue is as follows: 2019 2018 2017 RMB million RMB million RMB million Revenue from contracts with customers 120,796 115,210 102,436 Revenue from other sources Rental income 190 68 39 120,986 115,278 102,475 Revenue from contracts with customers (i) Disaggregated revenue information For the year ended December 31, 2019 Airline transportation Other Segments operations operations Total RMB million RMB million RMB million Type of goods or services Traffic revenues - Passenger 110,416 — 110,416 - Cargo and mail 3,826 — 3,826 Tour operations income — 878 878 Ground service income 1,180 — 1,180 Commission income 2,485 — 2,485 Others 1,269 742 2,011 Total revenue from contracts with customers 119,176 1,620 120,796 Geographical markets Domestic (the PRC, excluding Hong Kong, Macau and Taiwan) 78,248 1,620 79,868 International 37,082 — 37,082 Regional (Hong Kong, Macau and Taiwan) 3,846 — 3,846 Total revenue from contracts with customers 119,176 1,620 120,796 For the year ended December 31, 2018 Airline transportation Other Segments operations operations Total RMB million RMB million RMB million Type of goods or services Traffic revenues - Passenger 104,309 — 104,309 - Cargo and mail 3,627 — 3,627 Tour operations income — 2,173 2,173 Ground service income 1,055 — 1,055 Commission income 2,199 — 2,199 Others 1,368 529 1,897 Total revenue from contracts with customers 112,508 2,702 115,210 Geographical markets Domestic (the PRC, excluding Hong Kong, Macau and Taiwan) 73,747 2,702 76,449 International 34,744 — 34,744 Regional (Hong Kong, Macau and Taiwan) 4,017 — 4,017 Total revenue from contracts with customers 112,508 2,702 115,210 Set out below is the reconciliation of the revenue from contracts with customers to the amounts disclosed in the segment information: For the year ended December 31, 2019 Segments Airline RMB million Other RMB million Total RMB million Revenue from contracts with customers External customers 119,176 1,620 120,796 Intersegment sales — 2,052 2,052 Intersegment adjustment and eliminations — (2,052 ) (2,052 ) Total revenue from contracts with customers 119,176 1,620 120,796 For the year ended December 31, 2018 Segments Airline RMB million Other RMB million Total RMB million Revenue from contracts with customers External customers 112,508 2,702 115,210 Intersegment sales — 1,425 1,425 Intersegment adjustment and eliminations — (1,425 ) (1,425 ) Total revenue from contracts with customers 112,508 2,702 115,210 The following table shows the amounts of revenue recognized in the current reporting period that were included in the contract liabilities at the beginning of the reporting period: 2019 RMB million 2018 RMB million Revenue recognized that was included in contract liabilities at the beginning of the year: Passenger transportation services 7,216 6,218 As at December 31, 2019, the contract liabilities for frequent flyer program amounted to RMB2,057 million. The table below presents the movements of the contract liabilities for frequent flyer program. 2019 RMB million 2018 RMB million At January 1 2,286 1,994 Deferred during the year 1,613 1,519 Recognized as revenue during the year (1,654 ) (1,227 ) At December 31 2,245 2,286 Less: the related pending output value added tax therein 188 240 2,057 2,046 (ii) Performance obligations Information about the Group’s performance obligations is summarized below: Passenger transportation services The performance obligation is satisfied upon transportation services are provided. Payment in advance is required and reflected in sales in advance of carriage or unredeemed points awarded, both of which are included in contract liabilities. Cargo and mail transportation services The performance obligation is satisfied as services are rendered and payment is generally due within 10 days after the end of each month. Tour services The performance obligation is satisfied as services are rendered and payment in advance is generally required. Ground services The performance obligation is satisfied as services are rendered and payment is generally due within 45 days from the date of billing. Ticket cancellation and commission services The performance obligation is satisfied as the process of ticket cancellation or sales is completed and consideration normally has been received before the services are rendered. |
Other Operating Income and Gain
Other Operating Income and Gains | 12 Months Ended |
Dec. 31, 2019 | |
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Other Operating Income and Gains | 6 OTHER OPERATING INCOME AND GAINS 2019 RMB million 2018 2017 Co-operation 5,436 4,536 3,884 Routes subsidy income (note (b)) 353 441 295 Other subsidy income (note (c)) 535 453 762 Gain on disposal of items of property, plant and equipment 40 290 69 Gain on disposal of prepayments for land use rights — 210 5 Gain on disposal of available-for-sale — — 4 Dividend income from available-for-sale — — 33 Gain on disposal of an associate — 5 12 Dividend income from a financial asset at fair value through profit or loss 3 6 — Dividend income from equity investments designated at fair value through other comprehensive income 19 23 — Compensation from ticket sales agents 331 348 271 Gain on disposal of a subsidiary (note (d)) 64 — 1,754 Others 421 280 392 7,202 6,592 7,481 Notes: (a) Co-operation (b) Routes subsidy income represents subsidies granted by various authorities to support certain international and domestic routes operated by the Group. (c) Other subsidy income represents subsidies granted by various local authorities based on certain amounts of tax paid and other government grants. (d) There are no unfulfilled conditions or other contingencies related to subsidies that were recognized for the years ended December 31, 2019, 2018 and 2017. |
Operating Profit
Operating Profit | 12 Months Ended |
Dec. 31, 2019 | |
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Operating Profit | 7 OPERATING PROFIT Operating profit is stated after charging the following items: 2019 RMB million 2018 2017 Amortization of intangible assets (Note 20) 143 160 142 Depreciation of property, plant and equipment (Note 17) – owned 9,078 7,926 7,065 – leased (finance leases) — 6,690 6,302 Depreciation of right-of-use assets (Note 19(b)) (2018 and 2017: amortization of prepayments for land use rights) 12,298 43 45 Depreciation of investment properties (Note 18) 25 26 12 Amortization of long-term deferred assets included in other non-current assets 536 468 402 Consumption of flight equipment spare parts 1,013 1,088 1,131 Auditors’ remuneration 18 17 19 Foreign exchange differences, net (Note 13 and 12) 990 2,040 (2,001 ) |
Wages, Salaries and Benefits
Wages, Salaries and Benefits | 12 Months Ended |
Dec. 31, 2019 | |
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Wages, Salaries and Benefits | 8 WAGES, SALARIES AND BENEFITS 2019 RMB million 2018 2017 Wages, salaries, bonuses and allowances 19,385 17,865 16,474 Employee welfare and benefits 143 170 133 Pension (Note 40(a)) 2,571 2,306 1,987 Medical insurance (note (a)) 789 706 663 Staff housing fund (note (b)) 1,056 948 886 Staff housing allowances (note (c)) 186 109 150 Early retirement benefits (note (d)) 22 30 27 24,152 22,134 20,320 Notes: (a) Medical insurance Majority of the Group’s PRC employees participate in the medical insurance schemes organized by municipal governments. (b) Staff housing fund In accordance with the relevant PRC housing regulations, the Group is required to contribute to the state-sponsored housing fund for its employees. At the same time, the employees are required to contribute an amount equal to the Group’s contribution. The employees are entitled to claim the entire sum of the fund contributed under certain specified withdrawal circumstances. The Group has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits. (c) Staff housing allowances The Group also provides staff housing allowances in cash to eligible employees. The total entitlement of an eligible employee is principally provided over a period of 20 years. Upon an eligible employee’s resignation or retirement, his or her entitlement would cease and any unpaid entitlement related to past service up to the date of resignation or retirement would be paid. (d) Early retirement benefits The Group implements an early retirement scheme which allows eligible employees to early retire on a voluntary basis. The Group undertakes the obligations to pay the early retirement employees’ basic salaries and certain welfare in the future on a monthly basis according to the early retirement scheme, together with social insurance and housing fund pursuant to the regulation of the local government. The benefits of the early retirement scheme are calculated based on factors including the remaining number of years of service from the date of early retirement to the normal retirement date and the benefits the early retirement employees enjoyed. The present value of the future cash flows expected to be required to settle the obligations is recognized as a provision in “other long-term liabilities”. (e) Directors’ and executives’ remuneration Directors’ and chief executive’s remuneration for the year, disclosed pursuant to the Listing Rules, section 383(1)(a), (b), (c) and (f) of the Hong Kong Companies Ordinance and Part 2 of the Companies (Disclosure of Information about Benefits of Directors) Regulation, is as follows: 2019 2018 2017 Fees 805 800 800 Other emoluments: Salaries, allowances and benefits in kind 665 1,464 2,133 Performance related bonuses* — — — Pension scheme contributions 21 41 34 1,491 2,305 2,967 * No executive directors of the Company are entitled to bonus payments which are determined as a percentage of the profit after tax of the Group. 2019 Fees RMB’000 Salaries, RMB’000 Performance RMB’000 Pension RMB’000 Total RMB’000 Executive Directors Liu Shaoyong* — — — — — Ma Xulun*&**** — — — — — Wang Junjin** — — — — — Li Yangmin*&** — — — — — Tang Bing*&** — — — — — Yuan Jun* — — — — — Independent non-executive Directors Lin Wanli — — — — — Li Ruoshan*** 200 — — — 200 Ma Weihua*** 200 — — — 200 Shao Ruiqing 200 — — — 200 Cai Hongping 200 — — — 200 Dong Xuebo** 5 — — — 5 Supervisors Xi Sheng* — — — — — Gao Feng — 665 — 21 686 Li Jinde*&*** — — — — — Fang Zhaoya*&** — — — — — Total 805 665 — 21 1,491 2018 Fees RMB’000 Salaries, RMB’000 Performance RMB’000 Pension RMB’000 Total RMB’000 Executive Directors Liu Shaoyong* — — — — — Ma Xulun*&**** — — — — — Xu Zhao*&*** — — — — — Gu Jiadan*&*** — — — — — Li Yangmin*&*** — — — — — Tang Bing*&*** — — — — — Tian Liuwen*&*** — — — — — Yuan Jun** — 867 — 14 881 Independent non-executive Directors Lin Wanli** — — — — — Li Ruoshan 200 — — — 200 Ma Weihua 200 — — — 200 Shao Ruiqing 200 — — — 200 Cai Hongping 200 — — — 200 Supervisors Xi Sheng* — — — — — Gao Feng** — 251 — 19 270 Li Jinde*&** — — — — — Ba Shengji*&*** — — — — — Hu Jidong*&*** — — — — — Feng Jinxiong***** — 346 — 8 354 Jia Shaojun*&*** — — — — — Total 800 1,464 — 41 2,305 2017 Fees RMB’000 Salaries, RMB’000 Performance es RMB’000 Pension RMB’000 Total RMB’000 Executive Directors Liu Shaoyong* — — — — — Ma Xulun* — — — — — Xu Zhao* — — — — — Gu Jiadan* — — — — — Li Yangmin* — — — — — Tang Bing* — — — — — Tian Liuwen* — — — — — Independent non-executive Directors Li Ruoshan 200 — — — 200 Shao Ruiqing 200 — — — 200 Ma Weihua 200 — — — 200 Cai Hongping 200 — — — 200 Supervisors Xi Sheng* — — — — — Feng Jinxiong — 584 — 12 596 Ba Shengji* — — — — — Hu Jidong — 1,549 — 22 1,571 Jia Shaojun* — — — — — Total 800 2,133 — 34 2,967 * These directors and supervisors of the Company received emoluments from CEA Holding, the parent company, part of which were in respect of their services to the Company and its subsidiaries. No apportionment has been made as it is impracticable to apportion this amount between their services to the Group and their services to CEA Holding. ** These directors and supervisors of the Company were newly appointed or elected during the years ended December 31, 2019 and 2018, respectively. *** These directors and supervisors of the Company resigned during the years ended December 31, 2019 and 2018, respectively. **** Mr. Ma Xulun resigned on February 1, 2019. ***** Mr. Feng Jinxiong passed away due to illness during the year ended December 31, 2018. During the years ended December 31, 2019, 2018 and 2017, no directors and supervisors waived their emoluments. (f) Five highest paid individuals None of the Company’s directors and supervisors was among the five highest paid individuals in the Group for the year ended December 31, 2019 (2018: Nil). The emoluments payable to the five highest paid individuals were as follows: 2019 RMB ’000 2018 RMB ’000 Wages, salaries and allowances 11,413 8,938 Pension scheme contributions 185 172 11,598 9,110 The number of five highest paid individuals whose emoluments fell within the following band s Number of individuals 2019 2018 HK$2,000,001 to HK$2,500,000 2 5 HK$2,500,001 to HK$3,000,000 2 — HK$3,000,001 to HK$3,500,000 1 — During the year ended December 31, 2019, no emoluments were paid by the Group to the directors, supervisors and the five highest paid individuals as an inducement to join or upon joining the Group, or as a compensation for loss of office (2018: Nil). |
Impairment Charges
Impairment Charges | 12 Months Ended |
Dec. 31, 2019 | |
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Impairment Charges | 9 IMPAIRMENT CHARGES 2019 RMB million 2018 RMB million 2017 RMB million Impairment charge on property, plant and equipment (Note 17) 4 15 379 Write-down of flight equipment spare parts to net realizable value (Note 27) — 301 112 Impairment charge on assets classified as held for sale — 2 3 4 318 494 |
Impairment Losses on Financial
Impairment Losses on Financial Assets, Net | 12 Months Ended |
Dec. 31, 2019 | |
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Impairment Losses on Financial Assets, Net | 10 IMPAIRMENT LOSSES ON FINANCIAL ASSETS, NET 2019 RMB million 2018 RMB million 2017 RMB million Reversal of impairment losses on trade receivables (Note 28) (6 ) (21 ) (3 ) Impairment losses on other receivables (Note 30) 22 48 — 16 27 (3 ) |
Fair Value Changes of Derivativ
Fair Value Changes of Derivative Financial Instruments | 12 Months Ended |
Dec. 31, 2019 | |
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Gain/(Loss) on Fair Value Changes of Derivative Financial Instruments | 11 FAIR VALUE CHANGES OF DERIVATIVE FINANCIAL INSTRUMENTS 2019 RMB million 2018 RMB million 2017 RMB million Forward foreign exchange contracts — 311 (311 ) |
Finance Income
Finance Income | 12 Months Ended |
Dec. 31, 2019 | |
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Finance Income | 12 FINANCE INCOME 2019 RMB million 2018 RMB million 2017 RMB million Interest income 96 110 111 Foreign exchange gains, net (Note 13(b)) — — 2,001 96 110 2,112 |
Finance Costs
Finance Costs | 12 Months Ended |
Dec. 31, 2019 | |
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Finance Costs | 13 FINANCE COSTS 2019 RMB million 2018 RMB million 2017 RMB million Interest on bank borrowings 1,149 1,569 1,590 Interest relating to lease liabilities (Note 19(c)) 3,894 — — Interest relating to obligations under finance leases — 2,440 1,845 Interest relating to post-retirement benefit obligations 92 106 98 Interest relating to provision for lease return costs for aircraft and engines 270 — — Interest on bonds and debentures 520 468 381 Interest relating to interest rate swap contracts (68 ) (6 ) 63 Less: amount capitalized into advanced payments on acquisition of aircraft ( n (687 ) (850 ) (793 ) 5,170 3,727 3,184 Foreign exchange losses, net (note (b)) 990 2,040 — 6,160 5,767 3,184 Notes: (a) The weighted average interest rate used for interest capitalization was 3.51% per annum for the year ended December 31, 2019 (2018: 3.54% and 2017: 3.40%). (b) The exchange gains and losses primarily related to the translation of the Group’s foreign currency denominated borrowings and lease liabilities (2018 and 2017: obligations under finance leases). |
Income Tax Expense
Income Tax Expense | 12 Months Ended |
Dec. 31, 2019 | |
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Income Tax Expense | 14 INCOME TAX EXPENSE Income tax charged to profit or loss was as follows: 2019 RMB million 2018 2017 Income tax 942 1,220 1,962 Deferred taxation (Note 2 6 (123 ) (294 ) (162 ) 819 926 1,800 Pursuant to the “Notice of the Ministry of Finance, the State Administration of Taxation and the General Administration of Customs on Issues Concerning Relevant Tax Policies for Enhancing the Implementation of Western Region Development Strategy” (Cai Shui [2011] No.58), and other series of tax regulations, enterprises located in the western regions and engaged in the industrial activities as listed in the “Catalogue of Encouraged Industries in Western Regions”, will be entitled to a reduced corporate income tax rate of 15% from 2011 to 2020 upon approval from the tax authorities. CEA Yunnan, a subsidiary of the Company, obtained approval from the tax authorities and has been entitled to a reduced corporate income tax rate of 15% from January 1, 2011. The Company’s Sichuan branch, Gansu branch and Xibei branch also obtained approvals from the respective tax authorities and are entitled to a reduced corporate income tax rate of 15%. The subsidiaries incorporated in Hong Kong are subject to Hong Kong profits tax rate of 16.5% (2018: 16.5%). Eastern E-Commerce, The Company and its subsidiaries, except for CEA Yunnan, Eastern E-commerce, A reconciliation of the tax expense applicable to profit before tax at the statutory rates for the countries in which the Company and the majority of its subsidiaries are domiciled to the tax expense at the effective tax rates, is as follows: 2019 2018 2017 RMB million RMB million RMB million Profit before income tax 4,299 3,856 8,610 Tax calculated at the tax rate of 25% (2018: 25%, 2017:25%) 1,075 964 2,152 Lower tax rates enacted by local authority (139 ) (93 ) (87 ) Share of results of associates and joint ventures (71 ) (51 ) (63 ) Income not subject to tax (36 ) (9 ) (13 ) Expenses not deductible for tax 128 88 38 Utilization of previously unrecognized tax losses (11 ) (60 ) (253 ) Unrecognized tax losses for the year 17 28 48 Utilization of previously unrecognized deductible temporary differences (8 ) (1 ) (5 ) Unrecognized deductible temporary differences 3 23 2 Adjustments in respect of current tax of previous periods (34 ) 61 (8 ) Super deduction of research and development costs (27 ) (24 ) (11 ) Income tax deduction of purchase of special equipment for production safety (78 ) — — Tax charge 819 926 1,800 Effective tax rate 19.05 % 24.01 % 20.91 % The Group operates international flights to overseas destinations. There was no material overseas taxation for the years ended December 31, 2019, 2018 and 2017, as there are tax treaties between the PRC and the corresponding jurisdictions (including Hong Kong) relating to the aviation business. |
Dividends
Dividends | 12 Months Ended |
Dec. 31, 2019 | |
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Dividends | 15 DIVIDENDS 2019 2018 2017 RMB million RMB million RMB million Proposed final – RMB0.050 per ordinary share 819 — 740 On March 31, 2020, the Board approved the 2019 profit distribution plan to propose cash dividend for 2019 of RMB0.050 per share (before tax), totaling RMB819 million (before tax) based on 16,379,509,203 shares of the Company. The aforesaid profit distribution proposal is subject to approval by the shareholders at the forthcoming 2019 annual general meeting of the Company. |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Dec. 31, 2019 | |
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Earnings Per Share | 16 EARNINGS PER SHARE The calculation of basic earnings per share was based on the profit attributable to equity holders of the Company of RMB3,192 million (2018: RMB2,698 million, 2017: RMB6,342 million) and the weighted average number of shares of 15,104,893,522 (2018: 14,467,585,682, 2017: 14,467,585,682) in issue during the year ended December 31, 2019. The Company had no potentially dilutive options or other instruments relating to the ordinary shares in issue during the years ended December 31, 2019, 2018 and 2017. |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Property, Plant and Equipment | 17 PROPERTY, PLANT AND EQUIPMENT Aircraft, engines and flight equipment Other property, plant and equipment Owned Held under Buildings Construction Total RMB million RMB million RMB million RMB million RMB million RMB million December 31, 2019 At December 31, 2018, net of accumulated depreciation and impairment 68,565 94,416 8,530 4,174 4,419 180,104 Effect of adoption of IFRS 16 — (94,416 ) — — — (94,416 ) At January 1, 2019 (restated) 68,565 — 8,530 4,174 4,419 85,688 Additions 4,137 — (41 ) 716 3,242 8,054 Disposals (10 ) — (40 ) (41 ) — (91 ) Transfer from construction in progress — — 3,523 214 (3,737 ) — Transfer from advanced payments on acquisition of aircraft 335 — — — — 335 Transfer from investment properties (Note 18) — — 76 — — 76 Transfer from right-of-use assets (Note 19(b)) 14,264 — — — — 14,264 Transfer to investment properties (Note 18) — — (23 ) — — (23 ) Transfer from/(to) other non-current assets — — — 309 (67 ) 242 Disposal of a subsidiary (Note 45) — — (8 ) (18 ) — (26 ) Depreciation provided during the year (7,812 ) — (363 ) (903 ) — (9,078 ) Impairment — — — (4 ) — (4 ) At December 31, 2019, net of accumulated depreciation and impairment 79,479 — 11,654 4,447 3,857 99,437 At December 31, 2019: Cost 133,845 — 14,153 10,217 3,857 162,072 Accumulated depreciation and impairment (54,366 ) — (2,499 ) (5,770 ) — (62,635 ) Net carrying amount 79,479 — 11,654 4,447 3,857 99,437 As at December 31, 2019, the ownership certificates of buildings with a net carrying amount of RMB9,206 million have not been obtained. The directors of the Company are of the opinion that the Group legally owns and has the rights to use the aforesaid buildings, and that there is no material adverse impact on the overall financial position of the Group. The following table indicates the cost and net carrying amount of the Group’s aircraft pledged as collateral under certain borrowing arrangements (Note 38): 2019 2018 Cost Net carrying amount Cost Net carrying amount RMB million RMB million RMB million RMB million Aircraft - pledged as collateral 10,819 7,243 11,752 8,391 Aircraft, engines and flight equipment Other property, plant and equipment Owned Held under Buildings Construction Total RMB million RMB million RMB million RMB million RMB million RMB million December 31, 2018 At December 31, 2017 and at January 1, 2018: Cost 111,297 105,801 8,809 7,934 3,705 237,546 Accumulated depreciation and impairment (42,303 ) (21,041 ) (2,331 ) (5,015 ) — (70,690 ) Net carrying amount 68,994 84,760 6,478 2,919 3,705 166,856 At January 1, 2018, net of accumulated depreciation and impairment 68,994 84,760 6,478 2,919 3,705 166,856 Additions 6,057 9,821 32 1,192 4,181 21,283 Disposals (3,304 ) (1,332 ) (202 ) (54 ) — (4,892 ) Transfer from construction in progress — — 2,909 548 (3,457 ) — Transfer from advanced payments on acquisition of aircraft 824 10,696 — — — 11,520 Transfer from investment properties (Note 18) — — 18 — — 18 Transfer to investment properties (Note 18) — — (386 ) — — (386 ) Assets included in assets classified as held for sale (13 ) — — — — (13 ) Transfer from/(to) other non-current — — — 359 (10 ) 349 Depreciation provided during the year (6,798 ) (6,709 ) (318 ) (791 ) — (14,616 ) Impairment (15 ) — — — — (15 ) Transfers 2,820 (2,820 ) (1 ) 1 — — At December 31, 2018, net of accumulated depreciation and impairment 68,565 94,416 8,530 4,174 4,419 180,104 At December 31, 2018: Cost 111,968 117,824 10,689 9,462 4,419 254,362 Accumulated depreciation and impairment (43,403 ) (23,408 ) (2,159 ) (5,288 ) — (74,258 ) Net carrying amount 68,565 94,416 8,530 4,174 4,419 180,104 |
Investment Properties
Investment Properties | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Investment Properties | 18 INVESTMENT PROPERTIES 2019 2018 RMB million RMB million Cost At January 1 940 392 Transfer from property, plant and equipment (Note 17) 35 474 Transfer from right-of-use assets (Note 19(b)) 13 — Transfer from intangible asset — 98 Transfer to property, plant and equipment (Note 17) (101 ) (24 ) Transfer to right-of-use assets (Note 19(b)) (4 ) — At December 31 883 940 Accumulated depreciation At January 1 216 90 Transfer from property, plant and equipment (Note 17) 12 88 Transfer from right-of-use assets (Note 19(b)) 3 — Transfer from intangible assets — 18 Transfer to property, plant and equipment (Note 17) (25 ) (6 ) Transfer to right-of-use assets (Note 19(b)) (1 ) — Charge for the year (Note 7) 25 26 At December 31 230 216 Net book amount At December 31 653 724 As at December 31, 2019, the fair value of the investment properties was approximately RMB1,125 million (2018: RMB1,127 million) according to a valuation performed by an independent professionally qualified valuer. The investment properties are leased to third parties and related parties under operating leases. Rental income totaling RMB100 million (2018: RMB63 million, 2017: RMB39 million) was received by the Group during the year in respect of the leases. As at December 31, 2019, the carrying amount of the investment properties for which the ownership certificates of buildings have not been obtained was RMB451 million (2018: RMB498 million). The directors of the Company are of the opinion that the Group legally owns and has the rights to use the aforesaid investment properties, and that there is no material adverse impact on the overall financial position of the Group. Fair value hierarchy The following table illustrates the fair value measurement hierarchy of the Group’s investment properties: Buildings Fair value measurement using Quoted prices (Level 1) Significant (Level 2) Significant (Level 3) Total RMB million RMB million RMB million RMB million Not measured at fair value but fair value is disclosed: As at December 31, 2019 — 144 981 1,125 As at December 31, 2018 — 243 884 1,127 During the year, there were no transfers of fair value measurements between Level 1 and Level 2 and no transfers into or out of Level 3 (2018: Nil). The fair values of the buildings with comparable market prices have been estimated using significant observable inputs and calculated by adjusted market prices considering the condition and location of the buildings. The fair values of the buildings without comparable market prices have been estimated by a discounted cash flow valuation model using significant unobservable inputs such as the estimated rental value, rent growth, long term vacancy rate and discount rate. |
Leases
Leases | 12 Months Ended |
Dec. 31, 2019 | |
Presentation of leases for lessee [abstract] | |
Leases | 19 LEASES The Group as a lessee The Group has lease contracts for various items of aircraft, engines, buildings and others used in its operations. Lump sum payments were made upfront to acquire the leased land from the owners with lease periods of 50 years, and no ongoing payments will be made under the terms of these land leases. As at December 31, 2019, the Group had 462 aircraft (2018: 450 aircraft) under leases, which generally have lease terms between 8 and 12 years. Leases of engines generally have lease terms between 8 and 12 years, while buildings generally have lease terms between 2 and 10 years. Others, including motor vehicles, generally have lease term between 2 to 5 years. The Group also has lease contracts for buildings and equipment with lease terms of 12 months or less or is individually of low value. Generally, the Group is restricted from assigning and subleasing the leased assets outside the Group. (a) Prepayments for land use rights (before January 1, 2019) RMB million Carrying amount at January 1, 2018 1,717 Recognized in profit or loss during the year (330 ) Carrying amount at December 31, 2018 1,387 (b) Right-of-use The carrying amounts of the Group’s right-of-use Aircraft, engines and flight equipment RMB million Prepayments RMB million Buildings RMB million Others RMB million Total RMB million Cost at January 1, 2019, net of accumulated depreciation 126,417 1,387 496 12 128,312 Additions 26,315 1 622 73 27,011 Transfer from investment properties (Note 18) — 3 — — 3 Transfer to property, plant and equipment (Note 17) (14,264 ) — — — (14,264 ) Transfer to investment properties (Note 18) — (10 ) — — (10 ) Disposal of a subsidiary (Note 45) — — (10 ) — (10 ) Disposals (40 ) — — — (40 ) Depreciation provided during the year (11,964 ) (38 ) (284 ) (12 ) (12,298 ) At December 31, 2019 126,464 1,343 824 73 128,704 At December 31, 2019: Cost 172,690 1,662 1,108 85 175,545 Accumulated depreciation (46,226 ) (319 ) (284 ) (12 ) (46,841 ) Net carrying amount 126,464 1,343 824 73 128,704 (c) Lease liabilities The carrying amount of lease liabilities and the movements during the year are as follows: 2019 RMB million 2018 RMB million Carrying amount at January 1 77,427 66,868 Effect of adoption IFRS16 31,879 — Carrying amount at January 1 (restated) 109,306 66,868 New leases 24,023 18,769 Effect of foreign exchange 851 1,419 Disposal of a subsidiary (Note 45) (10 ) — Accretion of interest recognized during the year 3,894 2,440 Payments (27,789 ) (12,069 ) Carrying amount at December 31 110,275 77,427 Analyzed into: Current portion 15,590 9,364 Non-current 94,685 68,063 The maturity analysis of lease liabilities (2018: Obligations under finance leases) is disclosed in Note 51 to the consolidated financial statements. (d) The amounts recognized in profit or loss in relation to leases are as follows: 2019 RMB million Interest on lease liabilities 3,894 Depreciation charge of right-of-use 12,298 Low value and short-term lease rental 631 Total amount recognized in profit or loss 16,823 (e) The Group has no significant lease contracts that include extension and termination options or contains variable payments. (f) The total cash outflow for leases and future cash outflows relating to leases that have not yet commenced are disclosed in Notes 46(d) and 47, respectively, to the consolidated financial statements. The Group as a lessor The Group leases its investment properties (Note 18 to the consolidated financial statements) consisting of around 68 industrial properties in the PRC under operating lease arrangements, with leases negotiated for terms ranging from two to fourteen years. The terms of the leases generally require the tenants to pay security deposits and provide for periodic rent adjustments according to the then prevailing market conditions. Rental income recognized by the Group during the year was RMB190 million (2018: RMB68 million), details of which are included in Note 5 to the consolidated financial statements. At December 31, 2019, the undiscounted lease payments receivable by the Group in future periods under non-cancellable 2019 RMB million Within one year 165 After one year but within two years 149 After two years but within three years 144 After three years but within four years 139 After four years but within five years 138 After five years 221 956 |
Intangible Assets
Intangible Assets | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Intangible Assets | Goodwill Computer Others Total RMB million RMB million RMB million RMB million December 31, 2019 Cost at January 1, 2019, net of accumulated amortization 11,270 339 — 11,609 Additions — 199 — 199 Transfer from construction in process — 36 — 36 Disposals — (3 ) — (3 ) Amortization provided during the year — (143 ) — (143 ) At December 31, 2019 11,270 428 — 11,698 At December 31, 2019: Cost 11,270 1,301 98 12,669 Accumulated amortization (873 ) (98 ) (971 ) Net carrying amount 11,270 428 — 11,698 Goodwill Computer Others (note (b)) Total RMB million RMB million RMB million RMB million December 31, 2018 Cost at January 1, 2018, net of accumulated amortization 11,270 293 33 11,596 Additions — 166 — 166 Transfer from construction in process — 7 — 7 Amortization provided during the year — (127 ) (33 ) (160 ) At December 31, 2018 11,270 339 — 11,609 At December 31, 2018: Cost 11,270 1,077 98 12,445 Accumulated amortization — (738 ) (98 ) (836 ) Net carrying amount 11,270 339 — 11,609 Notes: (a) The balance represents goodwill arising from the acquisition of Shanghai Airlines. The value of the goodwill is attributable to strengthening the competitiveness of the Group’s airline transportation operations, attaining synergy through integration of the resources and accelerating the development of international air transportation in Shanghai. For the purpose of impairment assessment, goodwill was allocated to the cash-generating unit (“CGU”) that the Group operates and benefits from the acquisition. The recoverable amount of the CGU has been determined based on a value-in-use post-tax value-in-use (b) The balance represents the costs incurred to acquire the use right of certain flight schedules (i.e. timeslots for flights’ taking off/landing). |
Investments in Associates
Investments in Associates | 12 Months Ended |
Dec. 31, 2019 | |
Investments accounted for using equity method [abstract] | |
Investments in Associates | 21 INVESTMENTS IN ASSOCIATES 2019 2018 RMB million RMB million Share of net assets 1,977 1,696 The movements in investments in associates were as follows: 2019 2018 RMB million RMB million At January 1 1,696 1,654 Additions 95 — Share of results of associates 265 170 Share of revaluation on equity investments designated at fair value through other comprehensive income held by an associate 7 (24 ) Share of other equity changes of an associate 8 — Dividend received during the year (85 ) (104 ) Disposal of a subsidiary (Note 45) (9 ) — At December 31 1,977 1,696 Particulars of the principal associates, which are limited liability companies, are as follows: Company name Place of Registered capital Attributable Principal activities 2019 2018 2019 2018 Million Million Eastern Air Group Finance Co., Ltd. (“Eastern Air Finance Company”) PRC/Mainland China December 6, 1995 RMB2,000 RMB2,000 25% 25% Provision of financia l services to group China Eastern Air Catering Investment Co., Ltd. PRC/Mainland China November 17, RMB350 RMB350 45% 45% Provision of air catering services Shanghai Pratt & Whitney Aircraft Engine Maintenance Co., Ltd. (“Shanghai P&W”) (note) PRC/Mainland China March 28, 2008 USD40 USD40 51% 51% Provision of aircraft, New Shanghai International Tower Co., Ltd. PRC/Mainland China November 17, RMB167 RMB167 20% 20% Property Eastern Aviation Import & Export Co., Ltd. (“Eastern Import & Export”) PRC/Mainland China June 9, 1993 RMB80 RMB80 45% 45% Provision of aviation Eastern Aviation Advertising Service Co., Ltd. (“Eastern Advertising”) PRC/Mainland China March 4, 1986 RMB200 RMB200 45% 45% Provision of aviation Shanghai Collins Aviation Maintenance Service Co., Ltd. (“Collins Aviation”) PRC/Mainland China September 27, USD7 USD7 35% 35% Provision of airline Shanghai Airlines Tours International (Group) Co., Ltd. (“Shanghai Airlines Tours”) PRC/Mainland China August 29, 1992 RMB143 RMB50 35% 100% Tour operations, Note: In 2008, the Company entered into an agreement with United Technologies International Corporation (“Technologies International”) to establish Shanghai P&W, in which the Company holds a 51% interest. According to the shareholder’s agreement, Technologies International has the power to govern the financial and operating policies and in this respect the Company accounts for Shanghai P&W as an associate. The following table illustrates the aggregate financial information of the Group’s associates that were not individually material: 2019 2018 RMB million RMB million Share of the associates’ profit for the year 265 170 Share of the associates’ other comprehensive income 7 (24 ) Share of the associates’ total comprehensive income 272 146 Aggregate carrying amount of the Group’s interests in the associates 1,977 1,696 |
Investments in Joint Ventures
Investments in Joint Ventures | 12 Months Ended |
Dec. 31, 2019 | |
Investments accounted for using equity method [abstract] | |
Investments in Joint Ventures | 22 INVESTMENTS IN JOINT VENTURES 2019 2018 RMB million RMB million Share of net assets 627 577 The movements in investments in joint ventures were as follows: 2019 2018 RMB million RMB million At January 1 577 557 Additions 102 16 Share of results 17 34 Dividend received during the year (69 ) (30 ) At December 31 627 577 Particulars of the principal joint ventures, which are limited liability companies, are as follows: Company name Place of establishment Paid-up Attributable Principal activities 2019 2018 2019 2018 Million Million Shanghai Technologies Aerospace Co., Ltd. (“Technologies Aerospace”) (note) PRC/Mainland China September 28, 2004 USD73 USD73 51% 51% Provision of repair and Shanghai Eastern Union Aviation Wheels & Brakes Maintenance Services Overhaul Engineering Co., Ltd. (“Wheels & Brakes”) PRC/Mainland China December 28, 1995 USD2 USD2 40% 40% Provision of spare Eastern China Kaiya System Integration Co., Ltd. (“China Kaiya”) PRC/Mainland China May 21, 1999 RMB10 RMB10 41% 41% Provision of computer CAE Melbourne Flight Training Pty Ltd. (“CAE Melbourne”) Australia March 9, 2007 AUD11 AUD11 50% 50% Provision of flight Shanghai Hute Aviation Technology Co., Ltd. (“Shanghai Hute”) PRC/Mainland China April 9, 2003 RMB30 RMB30 50% 50% Provision of Xi’an CEA SAFRAN Landing Systems Services Co., Ltd. (“XIESA”) PRC/Mainland China July 12, 2017 USD40 USD40 50% 50% Provision of aircraft, Note: Under a joint venture agreement with a joint venture partner of Technologies Aerospace dated March 10, 2003, both parties have agreed to share the control over the economic activities of Technologies Aerospace with the joint venture partner. Any strategic financial and operating decisions relating to the activities of Technologies Aerospace require the unanimous consent of the Company and the joint venture partner. The following table illustrates the aggregate financial information of the Group’s joint ventures that were not individually material: 2019 2018 RMB million RMB million Share of the joint ventures’ profit for the year 17 34 Share of the joint ventures’ total comprehensive income 17 34 Aggregate carrying amount of the Group’s interests in the joint ventures 627 577 |
Equity Investments Designated a
Equity Investments Designated at Fair Value Through Other Comprehensive Income | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Equity Investments Designated at Fair Value Through Other Comprehensive Income | 23 EQUITY INVESTMENTS DESIGNATED AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME 2019 2018 RMB million RMB million Listed equity investments, at fair value TravelSky Technology Limited 496 510 496 510 Unlisted equity investments, at fair value Sichuan Airlines Corporation Limited 336 438 Aviation Data Communication Corporation Limited 244 161 Others 198 138 778 737 1,274 1,247 The above equity investments were irrevocably designated at fair value through other comprehensive income as the Group considers these investments to be strategic in nature. During the year ended December 31, 2019, the Group received dividends in the amounts of RMB8 million, RMB2 million, RMB5 million and RMB4 million from TravelSky Technology Limited, Sichuan Airlines Corporation Limited, Aviation Data Communication Corporation Limited and other non-listed |
Derivative Financial Instrument
Derivative Financial Instruments | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Derivative Financial Instruments | 24 DERIVATIVE FINANCIAL INSTRUMENTS Assets Liabilities 2019 2018 2019 2018 RMB million RMB million RMB million RMB million At December 31 Forward currency contracts 43 — 13 29 Interest rate swaps 27 223 10 — Total 70 223 23 29 Less: current portion – Forward currency contracts 43 — 13 29 – Interest rate swaps — 1 — — Non-current 27 222 10 — Cash flow hedge – Foreign currency risk Forward currency contracts are designated as hedging instruments in cash flow hedges of forecasted capital expenditures in USD, which comprise about 7% of its total expected capital expenditures in USD, and forecasted transactions that are highly probable. The forward currency contract balances vary with the level of expected foreign currency expenditures and changes in foreign exchange forward rates. Cash flow hedge – Interest rate risk At December 31, 2019, the Group had interest rate swap contracts in place with a notional amount of USD888 million whereby the Group receives interest at variable rates and pays interest at fixed rates. The swaps are being used to hedge against the variability in the cash flows arising from a change in market interest rates of lease liabilities with a face value of USD888 million. There is an economic relationship between the hedged items and the hedging instruments as the terms of the forward currency contracts and interest rate swap contracts match the terms of the expected foreign currency capital expenditures and the lease liabilities (i.e., notional amount and expected payment date). The Group has established a hedge ratio of 1:1 for the hedging relationships as the underlying risks of the forward currency contracts and interest rate swaps are identical to the hedged risk components. To measure the hedge effectiveness, the Group uses the hypothetical derivative method and compares the changes in the fair value of the hedging instruments against the changes in fair value of the hedged items attributable to the hedged risks. Hedge ineffectiveness can arise from: • Differences in the timing of the cash flows of the forecasted transactions and the hedging instruments • Different interest rate curves applied to discount the hedged items and hedging instruments • The counterparties’ credit risks differently impacting the fair value movements of the hedging instruments and hedged items • Changes to the forecasted amounts of cash flows of hedged items and hedging instruments The Group holds the following forward currency contracts and interest rate swap contracts: Maturity Less than 3 to 6 6 to 9 9 to 12 Over 1 Total As at December 31, 2019 Forward currency contracts (Capital expenditures) Notional amount (in RMB million) — 628 1,047 1,046 — 2,721 Average forward rate (RMB/USD) — 7.0151 6.9325 6.9988 — 6.9771 Forward currency contracts (Highly probable forecasted purchases) Notional amount (in RMB million) — — 1,835 858 — 2,693 Average forward rate (RMB/USD) — — 6.9629 6.8810 — 6.9368 Interest rate swaps (Payment on lease liabilities) Notional amount (in RMB million) 31 30 — — 6,133 6,194 Hedged rate (%) 2.0450 1.8800 — — 1.6803 1.6831 The impacts of the hedging instruments on the statement of financial position are as follows: Notional Carrying Line item in the statement Change in RMB million RMB million RMB million As at December 31, 2019 Forward currency contracts (Capital expenditures) 2,721 8 Derivative financial instruments 141 Forward currency contracts (Highly probable forecasted purchases) 2,693 22 Derivative financial instruments 22 Forward currency contracts (Payment on bonds) — — Derivative financial instruments 14 Interest rate swaps (Payment on lease liabilities) 6,194 17 Derivative financial instruments (137 ) The impacts of the hedged items on the statement of financial position are as follows: Change in fair value used for measuring Cash flow hedge reserve RMB million RMB million As at December 31, 2019 Capital expenditures 141 8 Highly probable forecasted purchases 22 22 Payment on bonds 14 — Payment on lease liabilities (163 ) 17 14 47 The effects of the cash flow hedge on the statement of profit or loss and the statement of comprehensive income are as follows: Total hedging gain/(loss) Hedge recognized in Line item in the statement Amount reclassified from other Line item the statement of Gross Tax Total Gross Tax Total RMB million RMB million RMB million RMB million RMB million RMB million RMB million Year ended December 31, 2019 Capital expenditures 141 (35 ) 106 — N/A (82 ) 20 (62 ) Finance Costs Highly probable forecasted purchases 22 (6 ) 16 — N/A (22 ) 6 (16 ) Finance Costs Payment on bonds 14 (4 ) 10 — N/A (14 ) 4 (10 ) Finance Costs Payment on lease liabilities (137 ) 34 (103 ) — N/A (68 ) 17 (51 ) Finance Costs |
Other Non-current Assets
Other Non-current Assets | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Other Non-current Assets | 2019 2018 RMB million RMB million Deposits relating to aircraft held under leases 156 177 Deferred pilot recruitment costs 1,873 1,536 Rebate receivables on aircraft acquisitions 42 55 Prepayment for acquisition of property, plant and equipment 1,095 854 Others 804 748 3,970 3,370 |
Deferred Taxation
Deferred Taxation | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Deferred Taxation | 26 DEFERRED TAXATION Deferred tax assets and liabilities are offset when there is a legally enforceable right of offsetting and when the deferred income taxes relate to the same authority. The following amounts, determined after appropriate offsetting, are shown in the consolidated statement of financial position: 2019 2018 RMB million RMB million Deferred tax assets 853 207 Deferred tax liabilities (22 ) (84 ) Net deferred tax assets 831 123 Movements in the net deferred tax assets/(liabilities) were as follows: 2019 RMB million At December 31, 2018 123 Effect of adoption of IFRS 16 554 At January 1, 2019 (restated) 677 Credited to profit or loss (Note 14) 123 Charged to other comprehensive income 31 At December 31, 2019 831 2018 RMB million At January 1, 2018 (240 ) Credited to profit or loss (Note 14) 294 Charged to other comprehensive income 69 At December 31, 2018 123 The deferred tax assets and liabilities (prior to the offsetting of balances within the same tax jurisdiction) were made up of the taxation effects of the following: 2019 2018 RMB million RMB million Deferred tax assets: Provision for lease return costs for aircraft and engines 1,075 — Impairment provision for flight equipment spare parts 53 126 Impairment provision for receivables 76 75 Impairment provision for property, plant and equipment 101 103 Derivative financial instruments 6 7 Financial asset at fair value through profit or loss — 6 Other payables and accruals 71 89 Government grants related to assets 35 42 Deferred gains in sale and leaseback transactions — 6 Loss available for offsetting against future taxable profits 66 — Aged payables 1 2 1,484 456 Deferred tax liabilities: Lease liabilities/Right-of-use (352 ) — Equity investments designated at fair value through other comprehensive income (283 ) (278 ) Derivative financial instruments (18 ) (55 ) (653 ) (333 ) 831 123 Movements in the net deferred tax assets/(liabilities) of the Group for the year were as follows: At Effect of At January 1 (Charged)/ (Charged)/ At For the year ended December 31, 2019 Provision for lease return costs for aircraft and engines — 882 882 193 — 1,075 Impairment provision for flight equipment spare parts 126 — 126 (73 ) — 53 Impairment provision for receivables 75 — 75 1 — 76 Impairment provision for property, plant and equipment 103 — 103 (2 ) — 101 Derivative financial instruments 7 — 7 — (1 ) 6 Financial asset at fair value through profit or loss 6 — 6 (6 ) — — Other payables and accruals 89 — 89 (18 ) — 71 Government grants related to assets 42 — 42 (7 ) — 35 Deferred gains in sale and leaseback transactions 6 — 6 (6 ) — — Loss available for offsetting against future taxable profits — — — 66 — 66 Aged payables 2 — 2 (1 ) — 1 456 882 1,338 147 (1 ) 1,484 Lease liabilities/Right-of-use assets — (328 ) (328 ) (24 ) — (352 ) Equity investments designated at fair value through other comprehensive income (278 ) — (278 ) — (5 ) (283 ) Derivative financial instruments (55 ) — (55 ) — 37 (18 ) (333 ) (328 ) (661 ) (24 ) 32 (653 ) Net deferred tax assets/(liabilities) 123 554 677 123 31 831 At January 1 RMB million (Charged)/ (Charged)/ credited to other At 8 For the year ended December 31, 2018 Impairment provision for flight equipment spare parts 51 75 — 126 Impairment provision for receivables 72 3 — 75 Impairment provision for property, plant and equipment 104 (1 ) — 103 Derivative financial instruments 82 (78 ) 3 7 Financial asset at fair value through profit or loss — 6 — 6 Other payables and accruals 29 60 — 89 Government grants related to assets — 42 — 42 Deferred gains in sale and leaseback transactions — 6 — 6 Aged payables 5 (3 ) — 2 343 110 3 456 Depreciation and amortization (56 ) 56 — — Equity investments designated at fair value through other comprehensive income (361 ) — 83 (278 ) Derivative financial instruments (38 ) — (17 ) (55 ) Passenger ticket breakage (128 ) 128 — — (583 ) 184 66 (333 ) Net deferred tax assets/(liabilities) (240 ) 294 69 123 The temporary differences associated with investments in subsidiaries, branches and associates and interests in joint arrangements, for which deferred tax has not been recognized in the periods presented, aggregate to RMB12,558 million (2018: RMB11,360 million). As at the reporting date, the Group had the following balances in respect of which deferred tax assets have not been recognized: 2019 2018 Deferred RMB million Temporary RMB million Deferred RMB million Temporary RMB million Tax losses carried forward 54 217 67 267 Other deductible temporary differences 7 30 27 126 Total unrecognized deferred tax assets 61 247 94 393 In accordance with the PRC tax law, tax losses can be carried forward for a period of five years to offset against future taxable income. The Group’s tax losses carried forward will expire between 2020 and 2024. As at December 31, 2019, management carried out an assessment to determine whether future taxable profits will be available to utilize the tax losses and deductible temporary differences. As there are still uncertainties around the Group’s future operating results, such as future fuel prices and market competition, management assessed that for certain subsidiaries there are significant uncertainties that future taxable profits will be available and the deferred tax assets arising from aforementioned tax losses and deductible temporary differences were not recognized. |
Flight Equipment Spare Parts
Flight Equipment Spare Parts | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Flight Equipment Spare Parts | 27 FLIGHT EQUIPMENT SPARE PARTS 2019 2018 RMB million RMB million Flight equipment spare parts 2,732 2,778 Less: provision for spare parts (325) (828 ) 2,407 1,950 Movements in the Group’s provision for impairment of flight equipment spare parts were as follows: 2019 2018 RMB million RMB million At January 1 828 531 Accrual (Note 9) — 301 Amount written off in relation to disposal of spare parts (503) (4 ) At December 31 325 828 |
Trade and Notes Receivables
Trade and Notes Receivables | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Trade and Notes Receivables | 28 TRADE AND NOTES RECEIVABLES The credit terms given to trade customers are determined on an individual basis. 2019 2018 RMB million RMB million Trade receivables 1,793 1,525 Notes receivable — 4 1,793 1,529 Impairment (76 ) (93 ) 1,717 1,436 An aging analysis of the trade receivables as at the end of the reporting period, based on the invoice/billing date and net of loss allowance, is as follows: 2019 RMB million 2018 RMB million Within 90 days 1,615 1,354 91 to 180 days 33 52 181 to 365 days 39 11 Over 365 days 30 15 1,717 1,432 Balances with related parties included in trade and notes receivables are summarized in Note 48(c)(i). The movements in the loss allowance for impairment of trade receivables are as follows: 2019 RMB million 2018 RMB million At beginning of year 93 119 Impairment losses, net (Note 10) (6 ) (21 ) Amount written off as uncollectible (4 ) (5 ) Disposal of a subsidiary (7 ) — At end of year 76 93 An impairment analysis is performed at each reporting date using a provision matrix to measure expected credit losses. The provision rates are based on days past due for groupings of various customer segments with similar loss patterns. The calculation reflects the probability-weighted outcome, the time value of money and reasonable and supportable information that is available at the reporting date about past events, current conditions and forecasts of future economic conditions. Set out below is the information about the credit risk exposure on the Group’s trade receivables using a provision matrix: As at December 31, 2019 Past due Current Less than 90 to 365 Over Total Expected credit loss rate (%) 0.12 2.94 2.50 70.59 4.24 Gross carrying amount (RMB million) 1,617 34 40 102 1,793 Expected credit losses (RMB million) 2 1 1 72 76 As at December 31, 2018 Past due Current Less than 90 to 365 Over Total Expected credit loss rate (%) 0.57 0.78 1.59 83.17 6.10 Gross carrying amount (RMB million) 1,232 129 63 101 1,525 Expected credit losses (RMB million) 7 1 1 84 93 Trade and notes receivables that were neither past due nor impaired relate to a large number of independent sales agents for whom there was no recent history of default. The net impacts of recognition and reversal of provisions for impaired receivables have been included in “Impairment losses on financial assets, net” in profit or loss (Note 10). Amounts charged to the allowance account are generally written off when there is no expectation of recovering. |
Financial Asset at Fair Value T
Financial Asset at Fair Value Through Profit or Loss | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Financial Asset at Fair Value Through Profit or Loss | 29 FINANCIAL ASSET AT FAIR VALUE THROUGH PROFIT OR LOSS 2019 RMB million 2018 RMB million Listed equity investment, at fair value Shanghai Pudong Development Bank Co., Ltd. 121 96 The above equity investment was classified as a financial asset at fair value through profit or loss as it was held for trading. |
Prepayments and Other Receivabl
Prepayments and Other Receivables | 12 Months Ended |
Dec. 31, 2019 | |
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Prepayments and Other Receivables | 30 PREPAYMENTS AND OTHER RECEIVABLES 2019 RMB million 2018 RMB million Value added tax recoverable 6,991 5,484 Value added tax refundable 800 979 Subsidy receivable 2,072 2,092 Prepaid corporate income tax 608 306 Advance to suppliers 129 222 Prepaid aircraft operating lease rentals — 478 Refundable advanced payment on acquisition of aircraft 538 — Rebate receivables on aircraft acquisitions 1,582 1,399 Amounts due from related parties (Note 48(c)(i)) 776 278 Deposits relating to aircraft held under leases 29 13 Other deposits 168 194 Others 663 577 14,356 12,022 Provision for impairment of other receivables (263 ) (246 ) 14,093 11,776 Set out below are the movements of loss allowances measured at 12-month 12-month ECLs Lifetime ECLs Stage 1 Stage 2 Stage 2 Stage 3 Total As at January 1, 2019 16 — 108 122 246 Transferred - to stage 2 (1 ) — 1 — — Accrual 18 — 4 — 22 Disposal of a subsidiary — — (5 ) — (5 ) As at December 31, 2019 33 — 108 122 263 12-month ECLs Lifetime ECLs Stage 1 Stage 2 Stage 2 Stage 3 Total As at January 1, 2018 4 — 72 122 198 Transferred - to stage 2 (1 ) — 1 — — Accrual 13 — 36 — 49 Reversal — — (1 ) — (1 ) As at December 31, 2018 16 — 108 122 246 The gross carrying amounts of the financial assets affecting the loss allowances above are as follows. 12-month ECLs Lifetime ECLs Stage 1 Stage 2 Stage 2 Stage 3 Total As at January 1, 2019 2,298 298 259 122 2,977 Transferred - to stage 2 (160 ) 160 — — — Accrual 1,066 — (265 ) — 801 Reversal (26 ) — (17 ) — (43 ) As at December 31, 2019 3,178 458 (23 ) 122 3,735 12-month ECLs Lifetime ECLs Stage 1 Stage 2 Stage 2 Stage 3 Total As at January 1, 2018 2,394 — 25 122 2,541 Transferred - to stage 2 (399 ) 298 101 — — Accrual 303 — 138 — 441 Reversal — — (5 ) — (5 ) As at December 31, 2018 2,298 298 259 122 2,977 |
Restricted Bank Deposits and Sh
Restricted Bank Deposits and Short-term Bank Deposits | 12 Months Ended |
Dec. 31, 2019 | |
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Restricted Bank Deposits and Short-term Bank Deposits | 31 RESTRICTED BANK DEPOSITS AND SHORT-TERM BANK DEPOSITS 2019 RMB million 2018 RMB million Restricted bank deposits 6 16 |
Cash and Cash Equivalents
Cash and Cash Equivalents | 12 Months Ended |
Dec. 31, 2019 | |
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Cash and Cash Equivalents | 32 CASH AND CASH EQUIVALENTS 2019 RMB million 2018 RMB million Cash 1 1 Bank balances 1,349 645 1,350 646 At the end of the reporting period, the cash and bank balances of the Group denominated in RMB amounted to RMB547 million (2018: RMB330 million). The RMB is not freely convertible into other currencies. However, under Mainland China’s Foreign Exchange Control Regulations and Administration of Settlement, Sale and Payment of Foreign Exchange Regulations, the Group is permitted to exchange RMB for other currencies through banks authorized to conduct foreign exchange business. Cash at banks earns interest at floating rates based on daily bank deposit rates. The bank balances are deposited with creditworthy banks and financial institutions with no recent history of default. |
Assets Classified as Held for S
Assets Classified as Held for Sale | 12 Months Ended |
Dec. 31, 2019 | |
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Assets Classified as Held for Sale | 33 ASSETS CLASSIFIED AS HELD FOR SALE The Group entered into agreements with China Aviation Supplies Co., Ltd. to dispose of certain flight equipment. The flight equipment with an aggregate carrying amount of RMB6 million (2018: RMB |
Trade and Bills Payables
Trade and Bills Payables | 12 Months Ended |
Dec. 31, 2019 | |
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Trade and Bills Payables | 34 TRADE AND BILLS PAYABLES An aging analysis of the trade and bills payables as at the end of the reporting period, was as follows: 2019 RMB million 2018 RMB million Within 90 days 3,622 3,594 91 to 180 days 52 49 181 to 365 days 94 157 1 to 2 years 40 100 Over 2 years 69 140 3,877 4,040 Balances with related parties included in trade and bills payables are summarized in Note 48(c)(ii). As at December 31, 2019, the Group held no bills payable (2018: RMB4 million). |
Contract Liabilities
Contract Liabilities | 12 Months Ended |
Dec. 31, 2019 | |
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Contract Liabilities | 35 CONTRACT LIABILITIES 2019 RMB million 2018 RMB million Sales in advance of carriage 8,754 7,638 Frequent flyer program (Note 5) 2,057 2,046 Advances from customers 866 712 11,677 10,396 Current portion 10,178 8,811 Non-current 1,499 1,585 |
Other Payables and Accruals
Other Payables and Accruals | 12 Months Ended |
Dec. 31, 2019 | |
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Other Payables and Accruals | 36 OTHER PAYABLES AND ACCRUALS 2019 RMB million 2018 RMB million Salaries, wages and benefits 2,794 2,854 Take-off 3,052 2,828 Fuel cost 1,109 1,225 Expenses related to aircraft overhaul conducted 1,810 1,324 Deposits from customers 18 6 Duties and levies payable 1,983 1,792 Food and beverages 253 349 Payments on system services 879 650 Lease rentals of property, plant and equipment 515 411 Other accrued operating expenses 991 701 Payable for purchase of property, plant and equipment 3,454 2,783 Interest payable 1,249 1,189 Pending output value added tax 412 378 Deposits received from ticket sales agents 507 502 Other deposits 570 576 Current portion of other long-term liabilities (Note 41) 294 234 Staff housing allowance 224 265 Amounts due to related parties (Note 48(c)(ii)) 383 1,093 Current portion of post-retirement benefit obligations (Note 40(b)) 165 168 Others 1,940 1,815 22,602 21,143 |
Obligations Under Finance Lease
Obligations Under Finance Leases | 12 Months Ended |
Dec. 31, 2019 | |
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Obligations Under Finance Leases | 37 OBLIGATIONS UNDER FINANCE LEASES As at December 31, 2018, the Group had 260 aircraft under finance leases. These leases were classified as finance leases prior to IFRS 16 becoming effective on January 1, 2019. Under the terms of the leases, the Group had the option to purchase, at or near the end of the lease terms, certain aircraft at either fair market value or a percentage of the respective lessors’ defined cost of the aircraft. The obligations under finance leases were principally denominated in USD. At December 31, 2018, the future minimum lease payments under finance leases and their present values were as follows: 2018 RMB million Within one year 11,974 In the second year 12,014 In the third to fifth years, inclusive 30,018 After the fifth year 36,974 Total of minimum lease payments 90,980 Present values of minimum lease payments 79,006 Less: amounts repayable within one year (9,364 ) Non-current portion 68,063 |
Borrowings
Borrowings | 12 Months Ended |
Dec. 31, 2019 | |
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Borrowings | 38 BORROWINGS 2019 RMB million 2018 RMB million Non-current Long-term bank borrowings – secured (note (a)) 2,995 3,934 – unsecured 828 4,556 Guaranteed bonds (note (b)) 12,784 13,377 Unsecured bonds (note (b)) 9,997 4,000 26,604 25,867 Current Current portion of long-term bank borrowings – secured (note (a)) 939 997 – unsecured 1,009 76 Current portion of guaranteed bonds (note (b)) 2,585 732 Current portion of unsecured bonds (note (b)) — 4,834 Short-term bank borrowings – unsecured 2,200 8,120 Short-term debentures (note (c)) 18,500 14,500 25,233 29,259 51,837 55,126 The borrowings are repayable as follows: 2019 2018 RMB million RMB million Within one year 25,233 29,259 In the second year 8,104 7,469 In the third to fifth years, inclusive 14,821 14,258 After the fifth year 3,679 4,140 Total borrowings 51,837 55,126 Notes: (a) As at December 31, 2019, the secured bank borrowings of the Group were secured by the related aircraft and buildings with a net carrying amount of RMB7,243 million (2018: RMB8,391 million) (Note 17). (b) On March 18, 2013, the Company issued ten-year On July 14, 2016, the Company issued five-year medium-term bonds with a principal amount of RMB4 billion, at an issue price equal to the face value of the bonds. The bonds bear interest at the rate of 3.39% per annum, which is payable annually. The principal of the bonds will mature and become repayable on July 14, 2021. On October 24, 2016, the Company issued ten-year corporate bonds with a total principal amount of RMB3 billion, of which bonds of RMB1.5 billion bear interest at the rate of 3.03% per annum and the remaining bonds of RMB1.5 billion bear interest at the rate of 3.30% per annum. The bonds interest is payable annually. The principal of the bonds will mature and become repayable on October 24, 2026. CEA Holding has unconditionally and irrevocably guaranteed the due payment and performance of the above bonds (Note 48(d)). On November 16, 2017, Eastern Air Overseas issued three-year corporate bonds with a principal amount of SGD500 million, at an issue price equal to the face value of the bonds. The bonds bear interest at the rate of 2.80% per annum, which is payable semi-annually. The principal of the bonds will mature and become repayable on November 16, 2020. The Company has unconditionally and irrevocably guaranteed the due payment and performance of the above bonds. On March 16, 2018, the Company issued three-year Credit Enhanced bonds with a total principal amount of JPY10 billion . On March 16, 2018, the Company issued three-year Credit Enhanced bonds with a total principal amount of JPY20 billion . On March 16, 2018, the Company issued three-year Credit Enhanced bonds with a total principal amount of JPY20 billion. The bonds bear interest at the rate of 0.64% per annum, which is payable semi-annually. The principal of the bonds will mature and become repayable on March 16, 2021. The bonds are secured by a standby letter of credit issued by Industrial and Commercial Bank of China Limited acting through its Shanghai Municipal Branch. On March 7, 2019, the Company issued three-year medium-term bonds with a principal amount of RMB3 billion, at an issue price equal to the face value of the bonds. The bonds bear interest at the rate of 3.70% per annum, which is payable annually. The principal of the bonds will mature and become repayable on March 7, 2022. On August 19, 2019, the Company issued five-year corporate bonds with a total principal amount of RMB3 billion. The bonds bear interest at the rate of 3.60% per annum, which is payable annually. The principal of the bonds will mature and become repayable on August 19, 2024. On December 6, 2019, Eastern Air Overseas issued three-year corporate bonds with a principal amount of KRW300 billion, at an issue price equal to the face value of the bonds. The bonds bear interest at the rate of 2.40% per annum, which is payable annually. The principal of the bonds will mature and become repayable on December 6, 2022. The Company has unconditionally and irrevocably guaranteed the due payment and performance of the above bonds. c) On May 29, 2019, the Company issued short-term debentures with a principal of RMB2 billion and maturity of 267 days. The debentures bear interest at the rate of 3.10% per annum. On June 13, 2019, the Company issued short-term debentures with a principal of RMB3 billion and maturity of 266 days. The debentures bear interest at the rate of 3.15% per annum. On July 3, 2019, the Company issued short-term debentures with a principal of RMB3 billion and maturity of 267 days. The debentures bear interest at the rate of 2.98% per annum. On October 25, 2019, the Company issued short-term debentures with a principal of RMB3 billion and maturity of 179 days. The debentures bear interest at the rate of 2.00% per annum. On November 15, 2019, the Company issued short-term debentures with a principal of RMB3 billion and maturity of 270 days. The debentures bear interest at the rate of 2.00% per annum. On November 26, 2019, the Company issued short-term debentures with a principal of RMB2 billion and maturity of 177 days. The debentures bear interest at the rate of 1.70% per annum. On December 6, 2019, the Company issued short-term debentures with a principal of RMB2.5 billion and maturity of 270 days. The debentures bear interest at the rate of 2.00% per annum. The terms of the long-term borrowings and bonds were summarized as follows: Interest rate and final maturities 2019 2018 RMB million RMB million Long-term bank borrowings RMB denominated interest rates ranging from 2.65% to 3.92% with final maturities through 2024 (2018: 3.10% to 3.48%) 1,828 4,528 USD denominated interest rates ranging from 6-month 6-month 2 6-month 6-month 870 1,469 EUR denominated interest rates at 3 months Euribor+0.5% with final maturities through 2026 (2018: 3 months Euribor+0.5%) 3,073 3,566 Guaranteed bonds RMB denominated interest rates ranging from 3.03% to 5.05% with final maturities through 2026 (2018: 3.03% to 5.05%) 7,796 7,795 SGD denominated interest rates at 2.80% with final maturities through 2020 (2018: 2.80%) 2,585 2,498 JPY denominated interest rates ranging from 0.33% to 0.64% with final maturities through 2021 (2018: 0.33% to 0.64%) 3,197 3,084 KRW denominated interest rate at 2.40% with final maturities through 2022 (2018: 2.05%) 1,791 732 Unsecured bonds RMB denominated interest rates ranging from 3.39% to 3.70% with final maturities through 2024 (2018: from 3.00% to 3.39%) 9,997 8,500 KRW denominated interest rate at 2.85% with final maturities through 2019 (2018: 2.85%) — 334 31,137 32,506 Short-term borrowings of the Group are repayable within one year. As at December 31, 2019, the interest rates relating to such borrowings was 3.30% (2018: 2.97% to 4.48% per annum). |
Provision For Lease Return Cost
Provision For Lease Return Costs For Aircraft And Engines | 12 Months Ended |
Dec. 31, 2019 | |
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Provision For Lease Return Costs For Aircraft And Engines | 39 PROVISION FOR LEASE RETURN COSTS FOR AIRCRAFT AND ENGINES Details of provision for lease return costs for aircraft and engines are as follows: 2019 2018 RMB million RMB million Carrying amount at January 1 2,906 3,019 Effect of adoption IFRS 16 3,654 — Carrying amount At January 1 (restated) 6,560 3,019 Accrual 702 402 Utilization (84 ) (515 ) At December 31 7,178 2,906 Less: current portion (519 ) (145 ) Non-current portion 6,659 2,761 |
Post-Retirement Benefit Obligat
Post-Retirement Benefit Obligations | 12 Months Ended |
Dec. 31, 2019 | |
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Post-Retirement Benefit Obligations | 40 POST-RETIREMENT BENEFIT OBLIGATIONS (a) Pension—defined contribution The group companies participate in defined contribution retirement schemes organized by municipal governments of various provinces in which the group companies operate. Substantially all of the Group’s PRC employees are eligible to participate in these defined contribution retirement schemes. Therefore, the employees are entitled to a monthly pension based on certain formulas. The relevant government agencies are responsible for the pension liability to these retired employees. In addition, the group companies have implemented an additional defined contribution retirement pension scheme for eligible employees since 2014. As at December 31, 2019 and 2018, the Group cannot use forfeited contributions to reduce its contributions to the pension schemes. (b) Post-retirement benefits In addition to the above schemes, the Group provides eligible retirees with other post-retirement benefits, including retirement subsidies, transportation allowance as well as other welfare. The expected cost of providing these post-retirement benefits is actuarially determined and recognized by using the projected unit credit method, which involves a number of assumptions and estimates, including inflation rate, discount rate and etc. The plan is exposed to interest rate risk and the risk of changes in the life expectancy for pensioners. The most recent actuarial valuation of the post-retirement benefit obligations was carried out at December 31, 2019 with assistance from a third party consultant using the projected unit credit actuarial valuation method. The post-retirement benefit obligations recognized in the consolidated statement of financial position are as follows: 2019 RMB million 2018 RMB million Post-retirement benefit obligations 2,584 2,712 Less: current portion (165 ) (168 ) Non-current 2,419 2,544 The principal actuarial assumptions utilized as at the end of the reporting period are as follows: 2019 2018 Discount rates for post-retirement benefits 3.40% 3.50% Mortality rate China Insurance Life Mortality China Insurance Life Mortality Table (2010-2013). Table (2010-2013). Annual increase rate of post-retirement medical expenses 6.50% 6.50% Inflation rate of pension benefits 2.50% 2.50% A quantitative sensitivity analysis for significant assumptions at the end of the reporting period is shown below: Increase Increase/ post-retirement Decrease Increase/ post-retirement 2019 Discount rate for post-retirement benefits 0.25 (74 ) 0.25 77 Annual increase rate of pension benefits 1.00 260 1.00 (222 ) Annual increase rate of medical expenses 1.00 36 1.00 (30 ) 2018 Discount rate for post-retirement benefits 0.25 (80 ) 0.25 84 Annual increase rate of pension benefits 1.00 288 1.00 (244 ) Annual increase rate of medical expenses 1.00 41 1.00 (34 ) The sensitivity analyzes above have been determined based on a method that extrapolates the impact on net post-retirement benefit obligations as a result of reasonable changes in key assumptions occurring at the end of the reporting period. Expected contributions to be made in the future years out of the post-retirement benefit obligations were as follows: 2019 RMB million 2018 RMB million Within the next 12 months 165 168 Between 2 and 5 years 661 678 Between 6 and 10 years 809 841 Over 10 years 2,534 2,802 Total expected payments 4,169 4,489 The average duration of the post-retirement benefit obligations at the end of 2019 was 13 years (2018: 13 years). The movements in the post-retirement benefit obligations were as follows: 2019 Pension cost charged to profit or loss Remeasurement (gains)/losses January 1 Service cost Net interest Sub-total Actuarial Actuarial Experience Sub-total included comprehensive Benefit December 31 Defined benefit obligations/ benefit liability 2,712 — 92 92 30 — (70 ) (40 ) (180 ) 2,584 2018 Pension cost charged to profit or loss Remeasurement (gains)/losses January 1 Service cost Net interest Sub-total Actuarial Actuarial Experience Sub-total included comprehensive Benefit December 31 Defined benefit obligations/ benefit liability 2,670 — 106 106 184 — (69 ) 115 (179 ) 2,712 |
Other Long-term Liabilities
Other Long-term Liabilities | 12 Months Ended |
Dec. 31, 2019 | |
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Other Long-term Liabilities | 41 OTHER LONG-TERM LIABILITIES 2019 2018 RMB million RMB million Long-term duties and levies payable relating to leases 1,487 1,398 Deferred gains in sale and leaseback transactions — 1,115 Deferred gains relating to government grants 152 179 Provision for early retirement benefit obligations and other benefit obligations 295 324 Other long-term payables 638 666 2,572 3,682 Less: current portion included in other payables and accruals (Note 36) (294 ) (234 ) Non-current 2,278 3,448 |
Share Capital
Share Capital | 12 Months Ended |
Dec. 31, 2019 | |
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Share Capital | 42 SHARE CAPITAL 2019 2018 RMB million RMB million Registered, issued and fully paid of RMB1.00 each A shares listed on the Shanghai Stock Exchange (“A Shares”) 11,202 9,808 – Tradable shares with trading moratorium 1,394 — – Tradable shares without trading moratorium 9,808 9,808 H shares listed on the Stock Exchange of Hong Kong Limited (“H Shares”) 5,177 4,659 – Tradable shares with trading moratorium 518 — – Tradable shares without trading moratorium 4,659 4,659 16,379 14,467 Pursuant to articles 50 and 51 of the Company’s articles of association, both the listed A shares and listed H shares are registered ordinary shares and carry equal rights. A summary of movements in the Company’s share capital is as follows: Number of million At December 31, 2018 and January 1, 2019 14,467 Issue of shares ( n 1,912 At December 31, 2019 16,379 Note(a) According to the approval of China Securities Regulatory Commission, the Company completed the non-public issuance of 518 million H shares to Shanghai Juneyao Airlines Hong Kong Co., Ltd. on August 29, 2019, raising a total of RMB2,002 million in net funds. The Company also completed the non-public issuance of 1,394 million A shares to four specific investors, including Shanghai Juneyao Airlines Co., Ltd. on August 30, 2019, raising a total of RMB7,440 million in net funds. |
Reserves
Reserves | 12 Months Ended |
Dec. 31, 2019 | |
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Reserves | 43 RESERVES Share Capital Hedging Statutory Other Retained Total RMB million RMB million RMB million RMB million RMB million RMB million RMB million At January 1, 2018 29,540 (778 ) 91 540 (2,038 ) 14,566 41,921 Unrealized gains on cash flow hedges (Note 24) — — 43 — — — 43 Fair value movements in equity investments designated at fair value through other comprehensive income — — — — (248 ) — (248 ) Fair value changes of equity investments designated at fair value through other comprehensive income held by an associate — — — — (24 ) — (24 ) Actuarial gains on post-retirement benefit obligations — — — — (111 ) — (111 ) Transfer from retained profits — — — 30 — (30 ) — Profit for the year — — — — — 2,698 2,698 Final 2017 dividend — — — — — (738 ) (738 ) At December 31, 2018 29,540 (778 ) 134 570 (2,421 ) 16,496 43,541 Effect of adoption of IFRS 16 — — — — — (1,595 ) (1,595 ) At January 1, 2019 (restated) 29,540 (778 ) 134 570 (2,421 ) 14,901 41,946 Unrealized gains on cash flow hedges (Note 24) — — (110 ) — — — (110 ) Fair value movements in equity investments designated at fair value through other comprehensive income — — — — 13 — 13 Fair value changes of equity investments designated at fair value through other comprehensive income held by an associate — — — — 7 — 7 Actuarial gains on post-retirement benefit obligations — — — — 39 — 39 Transfer from retained profits — — — 212 — (212 ) — Profit for the year — — — — — 3,192 3,192 Final 2018 dividend — — — — — — — Issue of shares 7,530 — — — — — 7,530 Others — 11 — — — 1 12 At December 31, 2019 37,070 (767 ) 24 782 (2,362 ) 17,882 52,629 Notes: (a) Capital reserve Capital reserve mainly represents the difference between the fair value of the net assets injected and the nominal amount of the Company’s share capital issued in respect of the group restructuring carried out in June 1996 for the purpose of the Company’s listing. (b) Statutory reserve According to the PRC Company Law, the Company is required to transfer a portion of the profits to the statutory reserve. The transfer to this reserve must be made before distribution of dividends to shareholders and when there are retained profits at the end of the financial year. |
Partly-owned Subsidiaries with
Partly-owned Subsidiaries with Material Non-controlling Interests | 12 Months Ended |
Dec. 31, 2019 | |
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Partly-owned Subsidiaries with Material Non-controlling Interests | 44 PARTLY-OWNED SUBSIDIARIES WITH MATERIAL NON-CONTROLLING Details of the Group’s subsidiaries that have material non-controlling 2019 2018 Percentage of equity interest held by non-controlling CEA Jiangsu 37.44 % 37.44 % CEA Yunnan 9.64 % 9.64 % CEA Wuhan 40.00 % 40.00 % 2019 RMB million 2018 RMB million Profit for the year allocated to non-controlling CEA Jiangsu 115 114 CEA Yunnan 50 33 CEA Wuhan 128 88 Dividends paid to non-controlling 37 56 Dividends paid to non-controlling 45 — Accumulated balances of non-controlling CEA Jiangsu 1,445 1,471 CEA Yunnan 704 674 CEA Wuhan 1,511 1,483 The following tables illustrate the summarized financial information of the above subsidiaries. The amounts disclosed are before any inter-company eliminations: CEA Jiangsu RMB million CEA Yunnan RMB million CEA Wuhan RMB million 2019 Revenue 9,774 11,634 4,743 Total expenses 9,466 11,110 4,424 Profit for the year 308 524 319 Total comprehensive income for the year 309 524 328 Current assets 1,116 575 369 Non-current 12,620 19,210 7,917 Current liabilities 2,486 3,623 1,611 Non-current 7,390 8,859 2,897 Net cash flows from operating activities 1,930 2,457 885 Net cash flows used in investing activities (16 ) (425 ) (222 ) Net cash flows used in financing activities (1,874 ) (2,031 ) (666 ) Effect of foreign exchange rate changes, net — — — Net increase/ (decrease) in cash and cash equivalents 40 1 (3 ) CEA Jiangsu RMB million CEA Yunnan RMB million CEA Wuhan RMB million 2018 Revenue 9,313 10,523 4,559 Total expenses 9,008 10,183 4,340 Profit for the year 305 340 219 Total comprehensive income for the year 297 340 217 Current assets 1,338 379 237 Non-current 9,460 16,018 7,048 Current liabilities 2,116 3,213 1,634 Non-current 4,753 6,196 1,944 Net cash flows from operating activities 1,036 3,686 775 Net cash flows used in investing activities (37 ) (592 ) (534 ) Net cash flows used in financing activities (991 ) (3,099 ) (243 ) Effect of foreign exchange rate changes, net — — — Net increase/ (decrease) in cash and cash equivalents 8 (5 ) (2 ) |
Disposal of a Subsidiary
Disposal of a Subsidiary | 12 Months Ended |
Dec. 31, 2019 | |
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Disposal of a Subsidiary | 45 DISPOSAL OF A SUBSIDIARY On March 19, 2019, the Company and Greenland Holdings Corporation Limited (“Greenland Holdings”) entered into a capital injection and share expansion agreement. According to the agreement, Greenland Holdings agreed to inject capital into Shanghai Airlines Tours International (Group) Co., Ltd. (“Shanghai Airlines Tours”), previously a wholly-owned subsidiary of the Company, and subscribe its newly issued shares with monetary capital in an aggregate amount of RMB251 million. As of May 17, 2019, the capital injection and share expansion has been completed. After that, the Company’s equity interest in Shanghai Airlines Tours was diluted to 35%, and Greenland Holdings held 65% of the equity interest in Shanghai Airlines Tours. Shanghai Airlines Tours ceased to be a subsidiary of the Company as a result of the dilution. The details of the assets and liabilities disposed of relating to the disposal of a subsidiary are summarized as follows: At date of disposal Net assets disposed of: Property, plant and equipment 26 Investments in associates 9 Right-of-use assets 10 Other non-current assets 3 Prepayments and other receivables 278 Restricted bank deposits and short-term bank deposits 251 Trade and notes receivables 115 Cash and cash equivalents 90 Trade and bills payables (79 ) Contract liabilities (284 ) Other payables and accruals (378 ) Lease liabilities (10 ) Net assets 31 Gain on disposal of a subsidiary 64 Satisfied by: Investment in an associate 95 An analysis of the net outflow of cash and cash equivalents in respect of the disposal of a subsidiary is as follows: 2019 Cash consideration — Cash and bank balances disposed of 90 Net outflow of cash and cash equivalents in respect of the disposal of a subsidiary (90 ) |
Notes to the Consolidated State
Notes to the Consolidated Statement of Cash Flows | 12 Months Ended |
Dec. 31, 2019 | |
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Notes to the Consolidated Statement of Cash Flows | 46 NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS (a) Cash generated from operations 2019 RMB million 2018 RMB million 2017 RMB million Profit before income tax 4,299 3,856 8,610 Adjustments for: Depreciation of property, plant and equipment 9,078 14,616 13,367 Depreciation of right-of-use 12,298 — — Amortization of intangible assets 143 160 143 Depreciation of investment properties 25 26 12 Amortization of lease prepayments — 43 45 Amortization of other non-current 536 468 402 Gains on disposal of property, plant and equipment (22 ) (267 ) (13 ) Gain on disposal of prepayments for land use rights — (210 ) (5 ) Gain on disposal of investment in a subsidiary (64 ) — (1,754 ) Gain on disposal of investment in an associate — (5 ) (12 ) Gain on disposal of available-for-sale — — (4 ) Dividend income from equity investments at fair value through other comprehensive income (19 ) (23 ) — Dividend income from available-for-sale — — (33 ) Dividend income from a financial asset at fair value through profit or loss (3 ) (6 ) — Share of results of associates (265 ) (170 ) (202 ) Share of results of joint ventures (17 ) (34 ) (49 ) Net foreign exchange loss/(gain) 890 1,983 (2,378 ) (Gain)/loss on fair value changes of financial asset at fair value through profit or loss (25 ) 27 — (Gain)/loss on fair value changes of derivative financial instruments — (311 ) 311 Impairment charges 4 318 494 Impairment losses on financial assets, net 16 27 (3 ) Interest income — (110 ) (111 ) Interest expense 5,169 3,727 3,184 Operating profit before working capital changes 32,043 24,115 22,004 Changes in working capital Flight equipment spare parts (457 ) (66 ) (109 ) Trade and notes receivables (275 ) 708 (500 ) Prepayments and other receivables (2,336 ) (2,056 ) (753 ) Sales in advance of carriage — — (569 ) Contract liabilities 1,281 1,051 — Restricted bank deposits and short-term bank deposits 9 35 (8 ) Trade and bills payables (163 ) 856 1,725 Other payables and accruals 1,459 36 340 Staff housing allowances — (36 ) 62 Other long-term liabilities (1,916 ) (525 ) (728 ) Post-retirement benefit obligations (125 ) 42 (217 ) Provision for lease return costs for aircraft and engines 617 (113 ) (139 ) Cash generated from operations 30,137 24,047 21,108 (b) Major non-cash 2019 RMB million 2018 RMB million 2017 RMB million Additions to right-of-use assets and lease liabilities 24,434 — — Finance lease obligations incurred for acquisition of aircraft — 7,945 6,865 * Disposal of a subsidiary of the Company for the current year also comprised a major non-cash transaction as disclosed in Note 45. (c) Changes in liabilities arising from financing activities Bank and RMB million Obligations under RMB million At December 31, 2018 55,126 77,427 Effect of adoption of IFRS 16 — 31,879 At January 1, 2019 (restated) 55,126 109,306 Changes from financing cash flows (3,427 ) (23,895 ) Foreign exchange movement 139 851 Disposal of a subsidiary — (10 ) New leases — 24,023 At December 31, 2019 51,838 110,275 At January 1, 2018 63,801 66,868 Changes from financing cash flows (9,076 ) (9,629 ) Foreign exchange movement 401 1,419 New finance leases — 18,769 At December 31, 2018 55,126 77,427 (d) Total cash outflow for leases The total cash outflow for leases included in the statement of cash flows is as follows: 2019 RMB million Within operating activities (631 ) Within investing activities (1,449 ) Within financing activities (27,789 ) |
Commitments
Commitments | 12 Months Ended |
Dec. 31, 2019 | |
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Commitments | 47 COMMITMENTS (a) The Group had the following capital commitments at the end of the reporting period: 2019 RMB million 2018 RMB million Contracted for: – Aircraft, engines and flight equipment ( n 47,822 70,998 – Other property, plant and equipment 4,917 6,481 – Investments 860 590 53,599 78,069 Note: (i) Contracted expenditures for the above aircraft, engines and flight equipment, including deposits prior to delivery, subject to future inflation increase built into the contracts, were expected to be paid as follows: 2019 RMB million 2018 RMB million Within one year 18,388 29,187 In the second year 12,442 24,735 In the third year 11,956 11,809 In the fourth year 3,892 4,674 Over four years 1,144 593 47,822 70,998 The above capital commitments represent the future outflow of cash or other resources. (a) The Group had the following capital commitments at the end of the reporting period (continued): (ii) On March 11, 2019, the Civil Aviation Administration of China ordered all domestic airlines to ground all 737MAX-8 aircraft. The Group (b) Operating lease commitments at December 31, 2018 As at December 31, 2018, the Group had commitments under operating leases to pay future minimum lease rentals as follows: 2018 RMB million Aircraft, engines and flight equipment Within one year 4,990 In the second year 5,371 In the third to fifth years, inclusive 12,041 After the fifth year 14,169 36,571 Land and buildings Within one year 398 In the second year 175 In the third to fifth years, inclusive 59 After the fifth year 75 707 37,278 (c) The Group has various lease contracts that have not yet commenced as at December 31, 2019. The future lease payments for these non-cancellable (d) Lease commitments for short-term leases amounted to RMB 83 million as at December 31, 2019. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Related Party Transactions | 48 RELATED PARTY TRANSACTIONS The Group is controlled by CEA Holding, which directly owns 30.97% of the Company’s shares as at December 31, 2019 (2018: 35.06 %). In addition, through CES Global Holdings (Hong Kong) Limited and CES Finance Holding Co., Limited, two wholly-owned subsidiaries of CEA Holding, CEA Holding indirectly owns additional shares of the Company of approximately 16.03% and 2.79% respectively as at December 31, 2019 (2018: 18.15% and 3.16% ). The Company is a state-owned enterprise established in the PRC and is controlled by the PRC government, which also owns a significant portion of the productive assets in the PRC. In accordance with IAS 24 “Related Party Disclosures”, government-related entities and their subsidiaries, directly or indirectly controlled, jointly controlled or significantly influenced by the PRC government are defined as related parties of the Group. On that basis, related parties include CEA Holding and its subsidiaries (other than the Group), other government-related entities and their subsidiaries (“Other State-owned Enterprises”), other entities and corporations over which the Company is able to control or exercise significant influence and key management personnel of the Company as well as their close family members. For the purpose of the related party transaction disclosures, the directors of the Company believe that meaningful information in respect of related party transactions has been adequately disclosed. (a) Nature of related parties that do not control or controlled by the Group: Name of related party Relationship with the Group Eastern Air Group Finance Co., Ltd. (“Eastern Air Finance Company”) Associate of the Company Eastern Aviation Import & Export Co., Ltd. and its subsidiaries (“Eastern Import & Export”) Associate of the Company Shanghai Pratt & Whitney Aircraft Engine Maintenance Co., Ltd. (“Shanghai P&W”) Associate of the Company Eastern Aviation Advertising Service Co., Ltd. and its subsidiaries (“Eastern Advertising”) Associate of the Company Shanghai Collins Aviation Maintenance Service Co., Ltd. (“Collins Aviation”) Associate of the Company Shanghai Airlines Tours International (Group) Co., Ltd. and its subsidiaries (“Shanghai Airlines Tours”) Associate of the Company Beijing Xinghang Aviation Property Co., Ltd. (“Beijing Aviation Property”) Associate of the Company CAE Melbourne Flight Training Pty Limited (“CAE Melbourne”) Joint venture of the Company Shanghai Eastern Union Aviation Wheels & Brakes Maintenance Services Overhaul Engineering Co., Ltd. (“Wheels & Brakes”) Joint venture of the Company Shanghai Technologies Aerospace Co., Ltd. (“Technologies Aerospace”) Joint venture of the Company Eastern China Kaiya System Integration Co., Ltd. (“China Kaiya”) Joint venture of the Company Shanghai Hute Aviation Technology Co., Ltd. (“Shanghai Hute”) Joint venture of the Company CEA Development Co., Limited and its subsidiaries (“CEA Development”) Controlled by the same parent company China Eastern Air Catering Investment Co., Limited and its subsidiaries (“Eastern Air Catering”) Controlled by the same parent company CES International Financial Leasing Corporation Limited and its subsidiaries (“CES Lease Company”) Controlled by the same parent company Shanghai Eastern Airlines Investment Co., Ltd. and its subsidiaries (“Eastern Investment”) Controlled by the same parent company Eastern Air Logistics Co., Ltd. and its subsidiaries (“Eastern Logistics”) Controlled by the same parent company Eastern Airlines Industry Investment Company Limited (“Eastern Airlines Industry Investment”) Controlled by the same parent company CES Finance Holding Co., Limited (“CES Finance”) Controlled by the same parent company and a substantial shareholder of the Company CES Global Holdings (Hong Kong) Limited (“CES Global”) Controlled by the same parent company and a substantial shareholder of the Company Hong Kong Securities Clearing Company Ltd. (“HKSCC”) A substantial shareholder of the Company TravelSky Technology Limited (“TravelSky”) A director and vice president of the Company is a director of Travelsky China Aviation Supplies Holding Company and its subsidiaries (“CASC”) A director and vice president of the Company is a director of CASC Air France-KLM A director and vice president of the Company is a director of AFK Juneyao Airlines Co., Ltd and its subsidiaries (“Juneyao Air”) A director and vice president of the Company is a director of Juneyao Air (b) Related party transactions Pricing policy Nature of transaction Related party and decision 2019 2018 Purchase of goods and services Payments on food and beverages* Eastern Air Catering (i) 1,471 1,317 CEA Development (i) — 78 Eastern Import & Export (i) 56 60 Handling charges for purchase of aircraft, flight equipment, flight equipment spare parts, other property, plant and flight equipment and repairs for aircraft and engines* Eastern Import & Export (i) 142 165 Repairs and maintenance expense Shanghai P&W (i) 1,762 2,394 for aircraft and engines Technologies Aerospace (i) 221 344 Wheels & Brakes (i) 144 129 Shanghai Hute (i) 88 74 XIESA (i) 2 — Payments on cabin cleaning services Eastern Advertising (i) 22 20 Advertising expense* Eastern Advertising (i) 29 19 Payments on system services China Kaiya (i) 16 21 Equipment maintenance fee* Collins Aviation (i) 45 60 CEA Development (i) 119 71 Automobile maintenance service, aircraft maintenance, providing transportation automobile and other products* CEA Development (i) 13 13 Property management and green maintenance expenses* CEA Development (i) 205 102 Payments on hotel accommodation service* CEA Development (i) 134 127 Shanghai Airlines Tours (i) 23 — Payments on construction and management agent Eastern Investment (i) 14 18 Payments on logistics services Eastern Import & Export (i) 49 142 Eastern Logistics (i) 53 — Civil aviation information network services** TravelSky (i) 753 646 Flight equipment spare parts maintenance** CASC (i) 143 189 Flight training fee CAE Melbourne (i) 70 75 Payments on aviation transportation cooperation and support services** AFK (i) 537 425 Payments on aviation transportation cooperation services Juneyao Air (i) 2 — Flight equipment spare parts maintenance and support services** AFK (i) 19 2 Bellyhold space management* Eastern Logistics (i) — 32 Bellyhold space operation cost* Eastern Logistics (i) 310 246 Transfer of pilots Eastern Logistics (i) 11 24 Cargo terminal business support services* Eastern Logistics (i) 481 348 Bellyhold container management Eastern Logistics (i) 13 11 Nature of transaction Related party Pricing policy 2019 RMB million 2018 RMB million Provision of services Contractual revenue from bellyhold space* Eastern Logistics (i) 3,826 2,795 Freight logistics support services* Eastern Logistics (i) 135 126 Software system and support services Eastern Logistics (i) 4 42 Transfer of freight depots and equipment Eastern Logistics (i) — 28 Media royalty fee Eastern Advertising (i) 15 14 Aviation transportation cooperation and support services** AFK (i) 593 728 Aviation transportation cooperation services Juneyao Air (i) 11 — Flight equipment spare parts maintenance and support services Juneyao Air (i) 41 — Lease p Lease payments for land and buildings under short-term leases* (2018: Land and building rental) CEA Holding (ii) 40 33 Eastern Investment (ii) 83 — Settlements of lease liabilities on aircraft and engines* (2018: Payments on operating leases and finance leases) CES Lease Company (ii) 5,779 3,984 Interest expense Interest expense on loans CEA Holding (iii) 27 13 Eastern Air Finance Company (iii) 5 — Interest income Interest income on deposits Eastern Air Finance Company (iii) 15 26 (i) The Group’s pricing policies on goods and services purchased from and provided to related parties are mutually agreed between contract parties. (ii) The Group’s pricing policies on related party lease payments are mutually agreed between contract parties. (iii) The Group’s pricing policies on related party interest rates are mutually agreed based on benchmark interest rates. * These related party transactions also constitute connected transactions or continuing connected transactions as defined in Chapter 14A of the Rules Governing the Listing of Securities on the Stock Exchange (the “Listing Rules”). ** These related party transactions constitute continuing connected transactions pursuant to the Rules Governing the Listing of Stocks on the Shanghai Stock Exchange. During the years ended December 31, 2019 and 2018, the Group’s significant transactions with entities that are controlled, jointly controlled or significantly influenced by the PRC government mainly include most of its bank deposits/borrowings and the corresponding interest income/expense and part of sales and purchases of goods and services. The price and other terms of such transactions are set out in the agreements governing these transactions or as mutually agreed. (c) Balances with related parties (i) Amounts due from related parties 2019 RMB million 2018 RMB million Trade and notes receivables Eastern Logistics 295 — CASC 23 — Juneyao Air 10 — Eastern Air Catering 1 1 Others 5 — 334 1 2019 RMB million 2018 RMB million Prepayments and other receivables Eastern Import & Export 272 133 Technologies Aerospace 7 31 Eastern Air Catering 6 16 Eastern Advertising 28 28 CEA Development 7 7 CEA Holding — 25 CASC 13 12 CES Global — 3 TravelSky 7 — Juneyao Air 10 — Eastern Air Finance Company 405 — Others 21 23 776 278 All the amounts due from related parties are trade in nature, interest-free and payable within normal credit terms. (ii) Amounts due to related parties 2019 RMB million 2018 RMB million Trade and bills payables Eastern Import & Export 421 229 Eastern Logistics — 167 Eastern Air Catering 390 272 Technologies Aerospace 104 141 CEA Development 76 15 Shanghai P&W 465 — Collins Aviation 7 1 CEA Holding 18 13 CASC 17 18 Shanghai Hute 13 15 TravelSky 22 333 Wheels & Brakes 17 14 Shanghai Airlines Tours 3 — Beijing Aviation Property 101 — Others 7 1 1,661 1,219 2019 2018 Other payables and accruals Eastern Import & Export 5 129 Shanghai P&W — 315 Eastern Air Catering 2 1 CEA Holding 111 104 Eastern Advertising — 3 China Kaiya — 2 CEA Development 1 49 CAE Melbourne — 311 Eastern Investment 86 10 CES Lease Company 166 164 CASC 2 2 XIESA 2 — Others 8 3 383 1,093 2019 RMB million 2018 RMB million Contract liabilities Eastern Logistics — 6 2019 RMB million 2018 RMB million Lease liabilities (2018: Obligations under finance leases) CES Lease Company 42,848 30,190 Except for the amounts due to CES Lease Company, which are related to the aircraft under leases, all other amounts due to related parties are interest-free and payable within normal credit terms given by trade creditors. (iii) Short-term deposits, loan and borrowings with related parties Average interest rate 2019 2018 2019 2018 RMB million RMB million Short-term deposits (included in cash and cash equivalents) Eastern Air Finance Company 0.35 % 0.35 % 1,122 282 Long-term borrowings (included in borrowings) CEA Holding 3.86 % 3.89 % 828 528 Loan to a joint venture CAE Melbourne 3.74 % 3.74 % 15 20 (d) Guarantees by the holding company As at December 31, 2019, bonds of the Group guaranteed by CEA Holding amounted to RMB7.8 billion (2018: RMB7.8 billion). (e) Key management compensation The compensation paid or payable to key management for employee services mainly comprising salaries and other short-term employee benefits was analysed as follows: 2019 RMB million 2018 RMB million Directors and supervisors 1 2 Senior management 8 8 9 10 |
Financial Instruments by Catego
Financial Instruments by Category | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Financial Instruments by Category | 49 FINANCIAL INSTRUMENTS BY CATEGORY The carrying amounts of each of the categories of financial instruments as at the end of the reporting period are as follows: 2019 Financial assets at fair value through profit or loss RMB million Financial assets at fair value through other comprehensive income RMB million Financial assets at amortized RMB million Derivatives designated as hedging instruments RMB million Total RMB million Financial assets Equity investments designated at fair value through other comprehensive income — 1,274 — — 1,274 Derivative financial instruments — — — 70 70 Financial assets included in other non-current — — 180 — 180 Trade and notes receivables — — 1,717 — 1,717 Financial asset at fair value through profit or loss 121 — — — 121 Financial assets included in prepayments and other receivables — — 11,711 — 11,711 Restricted bank deposits and short-term bank deposits — — 6 — 6 Cash and cash equivalents — — 1,350 — 1,350 Total 121 1,274 14,964 70 16,429 Financial liabilities at amortized cost RMB million Derivatives designated as hedging instruments RMB million Total RMB million Financial liabilities Trade and bills payables 3,877 — 3,877 Financial liabilities included in other payables and accruals 22,602 — 22,602 Lease liabilities 110,275 — 110,275 Borrowings 51,837 — 51,837 Derivative financial instruments — 23 23 Total 188,591 23 188,614 2018 Financial assets at fair value through profit or loss RMB million Financial assets at fair value through other comprehensive income RMB million Financial assets at amortized RMB million Derivatives designated as hedging instruments RMB million Total RMB million Financial assets Equity investments designated at fair value through other comprehensive income — 1,247 — — 1,247 Derivative financial instruments — — — 223 223 Financial assets included in other non-current — — 190 — 190 Trade and notes receivables — — 1,436 — 1,436 Financial asset at fair value through profit or loss 96 — — 96 Financial assets included in prepayments and other receivables — — 2,825 — 2,825 Restricted bank deposits and short-term bank deposits — — 16 — 16 Cash and cash equivalents — — 646 — 646 Total 96 1,247 5,113 223 6,679 Financial liabilities at amortized cost RMB million Derivatives designated as hedging instruments RMB million Total RMB million Financial liabilities Trade and bills payables 4,040 — 4,040 Financial liabilities included in other payables and accruals 21,143 — 21,143 Obligations under finance leases 77,427 — 77,427 Borrowings 55,126 — 55,126 Derivative financial instruments — 29 29 Total 157,736 29 157,765 |
Fair Value and Fair Value Hiera
Fair Value and Fair Value Hierarchy of Financial Instruments | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Fair Value and Fair Value Hierarchy of Financial Instruments | 50 FAIR VALUE AND FAIR VALUE HIERARCHY OF FINANCIAL INSTRUMENTS The carrying amounts and fair values of the Group’s financial instruments, other than those with carrying amounts that reasonably approximate to fair values, were as follows: December 31, 2019 December 31, 2018 Carrying amounts RMB million Fair values RMB million Carrying amounts RMB million Fair values RMB million Financial assets Equity investments designated at fair value through other comprehensive income 1,274 1,274 1,247 1,247 Financial asset at fair value through profit or loss 121 121 96 96 Derivative financial assets 70 70 223 223 Deposits relating to aircraft held under leases included in other non-current 156 148 177 154 Total 1,621 1,613 1,743 1,720 Financial liabilities Derivative financial liabilities 23 23 29 29 Long-term borrowings 26,604 23,754 25,867 25,875 Lease liabilities 94,685 89,491 — — Obligations under finance leases — — 68,063 64,521 Total 121,312 113,268 93,959 90,425 Management has assessed that the fair values of cash and cash equivalents, restricted bank deposits and short-term bank deposits, trade and notes receivables, trade and bills payables, financial assets included in prepayments and other receivables, financial liabilities included in other payables and accruals, short-term bank borrowings and short-term guaranteed bonds approximate to their carrying amounts largely due to the short-term maturities of these instruments. The fair values of the deposits relating to aircraft held under leases included in other non-current The Group enters into derivative financial instruments, including forward currency contracts and interest rate swaps with various counterparties, principally financial institutions with high credit ratings. Derivative financial instruments are measured using valuation techniques similar to forward pricing and swap models, using present value calculations. The models incorporate various market observable inputs including the foreign exchange spot and forward rates and interest rate curves. As at December 31, 2019, the mark-to-market The fair values of listed equity investments are based on quoted market prices. The fair values of unlisted equity investments designated at fair value through other comprehensive income, have been estimated using a market-based valuation technique based on assumptions that are not supported by observable market prices or rates. The valuation requires the directors to determine comparable public companies (peers) based on industry, size, leverage and strategy, and to calculate an appropriate price multiple, such as enterprise value to earnings before interest, taxes, depreciation and amortization (“EV/EBITDA”) multiple and price to earnings (“P/E”) multiple, for each comparable company identified. The multiple is calculated by dividing the enterprise value of the comparable company by an earnings measure. The trading multiple is then discounted for considerations such as illiquidity and size differences between the comparable companies based on company-specific facts and circumstances. The discounted multiple is applied to the corresponding earnings measure of the unlisted equity investments to measure the fair value. The directors believe that the estimated fair values resulting from the valuation technique, which are recorded in the consolidated statement of financial position, and the related changes in fair values, which are recorded in other comprehensive income, are reasonable, and that they were the most appropriate values at the end of the reporting period. Set out below is a summary of significant unobservable inputs to the valuation of financial instruments together with a quantitative sensitivity analysis as at December 31, 2019 and 2018: Valuation technique Significant unobservable input Range Sensitivity of fair value to the input Unlisted equity investments Valuation multiples Discount for lack of marketability 2019: 20% to 35% (2018: 19% to 41%) 1% (2018: 1%) increase/decrease in multiple would result in increase/ decrease in fair value by RMB11 million (2018: RMB11 million) The discount for lack of marketability represents the amounts of premiums and discounts determined by the Group that market participants would take into account when pricing the investments. Fair value hierarchy The following tables illustrate the fair value measurement hierarchy of the Group’s financial instruments: Assets and liabilities measured at fair value: As at December 31, 2019 Fair value measurement using Quoted prices in active markets (Level 1) RMB million Significant observable inputs (Level 2) RMB million Significant unobservable inputs (Level 3) RMB million Total RMB million Assets Equity investments designated at fair value through other comprehensive income 496 — 778 1,274 Derivative financial assets -Interest rate swaps — 70 — 70 Financial asset at fair value through profit or loss 121 — — 121 Total 617 70 778 1,465 Liabilities Derivative financial liabilities -Forward currency contracts — 23 — 23 Total — 23 — 23 As at December 31, 2018 Fair value measurement using Quoted prices Significant Significant (Level 3) Total RMB million RMB million RMB million RMB million Assets Equity investments designated at fair value through other comprehensive income 510 — 737 1,247 Derivative financial assets -Interest rate swaps — 223 — 223 Financial asset at fair value through profit or loss 96 — — 96 Total 606 223 737 1,566 Liabilities Derivative financial liabilities -Forward currency contracts — 29 — 29 Total — 29 — 29 During the year, there were no transfers of fair value measurements between Level 1 and Level 2 and no transfers into or out of Level 3 for both financial assets and financial liabilities (2018: Nil). Assets and liabilities for which fair values are disclosed: As at December 31, 2019 Fair value measurement using Quoted prices Significant Significant (Level 3) Total RMB million RMB million RMB million RMB million Assets Deposits relating to aircraft held under leases included in other non-current — 148 — 148 Liabilities Long-term borrowings 2,897 20,857 — 23,754 Lease liabilities — 89,491 — 89,491 2,897 110,496 — 113,393 As at December 31, 2018 Fair value measurement using Quoted prices Significant Significant (Level 3) Total RMB million RMB million RMB million RMB million Assets Deposits relating to aircraft held under leases included in other non-current — 154 — 154 Liabilities Long-term borrowings 2,861 23,014 — 25,875 Obligations under finance leases — 64,521 — 64,521 2,861 87,535 — 90,396 |
Financial Risk Management Objec
Financial Risk Management Objectives and Policies | 12 Months Ended |
Dec. 31, 2019 | |
Investments accounted for using equity method [abstract] | |
Financial Risk Management Objectives and Policies | 51 FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES The Group’s activities expose it to a variety of financial risks: market risk (including foreign currency risk, interest rate risk, fuel price risk and equity price risk), credit risk and liquidity risk. The Group’s overall risk management program focuses on the unpredictability of financial markets and seeks to minimize potential adverse effects on the Group’s financial performance. The Group uses derivative financial instruments to manage risk exposures whenever management considers necessary. Risk management is carried out by a central treasury department (the “Group Treasury”) under policies approved by the Board. The Group Treasury identifies, evaluates and hedges financial risks in close cooperation with the Group’s operating units. The overall risk management strategies, as well as written policies covering specific areas, such as foreign currency risk, interest rate risk, credit risk, use of derivative financial instruments and non-derivative Foreign currency risk The Group operates its business in many countries and territories. The Group generates its revenue in different currencies, and the amount of its foreign currency liabilities at the end of the period is much higher than that of its foreign currency assets. The Group’s major liability item (mainly resulting from purchases of aircraft) is mainly priced and settled in foreign currencies, primarily USD. The Group is exposed to currency risks from fluctuations in various foreign currency exchange rates against RMB. The RMB is not freely convertible into other currencies, however, under Mainland China’s Foreign Exchange Control Regulations and Administration of Settlement, Sale and Payment of Foreign Exchange Regulations, the Group is permitted to exchange RMB for other currencies through banks authori z In addition, fluctuations in foreign currency exchange rates will affect the Group’s future costs for purchases of aircraft, flight equipment and aviation fuel, and take-off The Group entered into certain forward currency contracts to manage part of the foreign currency risks. As at December 31, 2019, the forward currency contracts at notional value were RMB5,414 million. Details of the forward currency contracts are disclosed in Note 24 to the consolidated financial statements. The following tables detail the Group’s exposure to major currency risk at the reporting dates: 2019 USD EUR SGD KRW RMB million RMB million RMB million RMB million Trade receivables 28 47 5 10 Cash and cash equivalents 635 63 5 11 Other receivables 2,065 3 1 130 Other non-current 180 — — — Trade and other payables (105 ) (3 ) — — Lease liabilities (45,674 ) — (397 ) — Borrowings (870 ) (3,073 ) (2,587 ) (1,810 ) 2018 USD EUR SGD KRW RMB million RMB million RMB million RMB million Trade receivables 75 55 5 25 Cash and cash equivalents 124 47 10 — Other receivables — 2 1 131 Other non-current 190 — — — Trade and other payables (144 ) (2 ) (5 ) — Obligations under finance leases (25,376 ) — (514 ) — Borrowings (3,139 ) (3,566 ) (2,503 ) (1,066 ) The following tables indicate the approximate change in the Group’s consolidated statement of profit or loss and other comprehensive income in response to a 1% appreciation or depreciation of the RMB against the following major currencies at the reporting dates: 2019 2018 Effect on Effect on other Effect on Effect on other RMB million RMB million RMB million RMB million If RMB (weakens)/strengthens against USD (328)/328 41/(41) (178)/178 34/(34) If RMB (weakens)/strengthens against EUR (22)/22 — (26)/26 — If RMB (weakens)/strengthens against SGD (22)/22 — (23)/23 — If RMB (weakens)/strengthens against KRW (12)/12 — (7)/7 — Interest rate risk The Group’s interest rate risk primarily arises from borrowings and lease liabilities (2018: obligations under finance leases). Borrowings issued at variable rates expose the Group to cash flow interest rate risk. Borrowings and lease liabilities issued at fixed rates expose the Group to fair value interest rate risk. The Group determines the proportion of borrowings and lease liabilities issued at variable rates and fixed rates based on the market environment. The Group’s finance department has been monitoring the level of interest rates. The increase in the interest rates will increase the interest costs of borrowings and lease liabilities issued at variable rates, which will further impact the performance of the Group. To hedge against the variability in the cash flows arising from a change in market interest rates, the Group has entered into certain interest rate swaps to swap variable rates into fixed rates. The interest rates and terms of repayment of borrowings made to the Group and interest rate swaps are disclosed in Notes 38 and 24 to the consolidated financial statements. The following tables detail the interest rate profiles of the Group’s interest-bearing financial instruments at the reporting dates: 2019 2018 RMB million RMB million Floating rate instruments Cash and cash equivalents 1,350 646 Restricted bank deposits and short-term bank deposits 6 16 Borrowings (3,943 ) (9,705 ) Lease liabilities/Obligations under finance leases (49,851 ) (50,761 ) Interest rate swaps at notional amount 6,194 7,566 2019 2018 RMB million RMB million Fixed rate instruments Borrowings (47,929 ) (45,477 ) Lease liabilities/Obligations under finance leases (60,423 ) (26,666 ) The following table indicates the approximate change in the Group’s profit or loss and other comprehensive income, taking the interest rate swap into consideration, if interest rate had been 25 basis points higher with all other variables held constant: 2019 2018 Effect on Effect on other Effect on Effect on other RMB million RMB million RMB million RMB million Floating rate instruments (98 ) 12 (112 ) 14 Fuel price risk The Group’s results of operations may be significantly affected by fluctuations in fuel prices which is a major expense component for the Group. Aircraft fuel accounted for approximately 29% of the Group’s operating expenses (2018: 33%). For the year ended December 31, 2019, if fuel price had been 5% higher/lower with all other variables held constant, the Group’s fuel cost would have been RMB1,710 million higher/lower (2018: RMB1,684 million higher/lower). As at December 31, 2019 and 2018, the Group had no crude oil option contracts. Credit risk The Group’s credit risk is primarily attributable to cash and cash equivalents, deposits and derivative financial instruments with banks and financial institutions, as well as credit exposures to sales agents. A significant portion of the Group’s air tickets is sold by sales agents participating in the Billing and Settlements Plan (“BSP”), a clearing system between airlines and sales agents organized by the International Air Transportation Association. The balance due from BSP agents amounted to approximately RMB835 million as at December 31, 2019 (2018: approximately RMB637 million). The credit risk exposure to BSP agents and the remaining trade and notes receivables are maintained by the Group on an on-going The Group’s cash management policy is to deposit cash and cash equivalents mainly in state-owned banks and other reputable banks and financial institutions. The Group also deposits cash and cash equivalents in an associate financial institution owned by its holding company (Note 48(c)(iii)). Management does not expect any loss to arise from non-performance Transactions in relation to derivative financial instruments are only carried out with reputable banks and financial institutions. The Group has policies that limit the amount of credit exposure to any bank and financial institution. Management does not expect any losses from non-performance Liquidity risk The Group’s primary cash requirements are for day-to-day The table below analyses the Group’s financial liabilities that will be settled into relevant maturity groupings based on the remaining period at the reporting date to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows. Less than 1 year 1 to 2 years 2 to 5 years Over 5 years Total RMB million RMB million RMB million RMB million RMB million At December 31, 2019 Borrowings 26,422 8,796 15,882 3,872 54,972 Lease liabilities 19,870 17,691 44,919 47,431 129,911 Trade, bills and other payables 26,479 — — — 26,479 Total 72,771 26,487 60,801 51,303 211,362 Less than 1 year 1 to 2 years 2 to 5 years Over 5 years Total RMB million RMB million RMB million RMB million RMB million At December 31, 2018 Borrowings 30,813 8,074 15,500 4,431 58,818 Obligations under finance leases 11,974 12,014 30,018 36,974 90,980 Trade, bills and other payables 19,747 — — — 19,747 Total 62,534 20,088 45,518 41,405 169,545 Equity price risk The Group is exposed to equity price risk arising from individual equity investments included in financial asset at fair value through profit or loss (Note 29) and equity investments designated at fair value through other comprehensive income (Note 23) as at December 31, 2019. The Group’s listed investments are listed on the Hong Kong and Shanghai stock exchanges and are valued at quoted market prices at the end of the reporting period. The market equity indices for the following stock exchanges, at the close of business of the nearest trading day in the year to the end of the reporting period, and their respective highest and lowest points during the year were as follows: December 31, High/Low 2019 December 31, High/Low 2018 Hong Kong – Hang Seng Index 28,190 30,157/25,064 25,846 33,154/24,586 Shanghai – A Share Index 3,196 3,426/2,580 2,611 3,728/2,600 The following table demonstrates the sensitivity to every 10% change in the fair values of the equity investments, with all other variables held constant, based on their carrying amounts at the end of the reporting period. For the purpose of this analysis, for the equity investments at fair value through other comprehensive income, the impact is deemed to be on the fair value reserve as at December 31, 2019. Carrying amount RMB million Increase/ (decrease) RMB million Increase/(decrease) RMB million 2019 Investments listed in: Hong Kong – Equity investment designated at fair value through other comprehensive income 496 — 37/(37) Shanghai – Financial asset at fair value through profit or loss 121 9/(9) — Unlisted investments at fair value: – Equity investment designated at fair value through other comprehensive income 778 — 58/(58) 2018 Investments listed in: Hong Kong – Equity investment designated at fair value through other comprehensive income 510 — 38/(38) Shanghai – Financial asset at fair value through profit or loss 96 7/(7) — Unlisted investments at fair value: – Equity investment designated at fair value through other comprehensive income 737 — 55/(55) Capital management The primary objectives of the Group’s capital management are to safeguard the Group’s ability to continue as a going concern and to maintain healthy capital ratios in order to support its business and maximize shareholders’ value. The Group manages its capital structure and makes adjustments to it in light of changes in economic conditions and the risk characteristics of the underlying assets. To maintain or adjust the capital structure, the Group may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares. The Group is not subject to any externally imposed capital requirements. No changes were made in the objectives, policies or processes for managing capital during the years ended December 31, 2019 and December 31, 2018. The Group monitors capital on the basis of the debt ratio, which is calculated as total liabilities divided by total assets. The debt ratios as at the end of the reporting periods were as follows: December 31, RMB million January 1, RMB million December 31, RMB million Total liabilities 212,539 211,750 177,416 Total assets 285,185 271,593 239,017 Debt ratio 75 % 79 % 74 % Note: The Group has adopted IFRS 16 using the modified retrospective approach and the effect of the initial adoption is adjusted against the opening balances as at January 1, 2019 with no adjustments to the comparative amounts as at December 31, 2018. This resulted in a decrease in the Group’s net assets and hence the Group’s debt ratio increased from 74% to 79% on January 1, 2019 when compared with the position as at December 31, 2018. |
Events After the Reporting Peri
Events After the Reporting Period | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Events After the Reporting Period | 52 EVENTS AFTER THE REPORTING PERIOD Since January 2020, the coronavirus pandemic (“the COVID-19”) has spread across China and other countries, and governments have implemented a series of measures including travel restrictions and quarantines to contain the pandemic , which adversely affected the transport industry where the Group operates. In response to the COVID-19, the Group adjusted the operating strategy, temporarily suspended or made adjustment on the operation of flights on some routes to safeguard the safety and health of passengers and employees, and deployed additional cargo capacity for pandemic prevention materials. The Group will dynamically optimize and adjust its capacity based on the progress of pandemic prevention and control and the recovery of market demand. The development and evolution of the COVID-19 in China and globally still has great uncertainty in the duration and severity, which may further amplify the adverse impact and delay on the recovery of airlines industry and travel demand. Given the uncertainty about the situation, the Group currently cannot estimate the impact to the financial performance and cash flows for the year 2020. On March 31, 2020, the Board approved the 2019 profit distribution plan to propose cash dividend for 2019 of RMB0.050 per share (before tax), totaling RMB 0.819 billion (before tax) based on 16,379,509,203 shares of the Company. The aforesaid profit distribution proposal is subject to approval by the shareholders at the forthcoming 2019 annual general meeting of the Company. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Segmental reporting | Segmental reporting Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker (“CODM”). The CODM, who is responsible for allocating resources and assessing performance of the operating segments, has been identified as the office of the General Manager that makes strategic decisions. |
Investments in associates and joint ventures | Investments in associates and joint ventures An associate is an entity in which the Group has a long-term interest of generally not less than 20% of the equity voting rights and over which it is in a position to exercise significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee, but is not control or joint control over those policies. A joint venture is a type of joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the joint venture. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. The Group’s investments in associates and joint ventures are stated in the consolidated statement of financial position at the Group’s share of net assets under the equity method of accounting, less any impairment losses. Adjustments are made to bring into line any dissimilar accounting policies that may exist. The Group’s share of the post-acquisition results and other comprehensive income of associates and joint ventures is included in the consolidated statement of profit or loss and other comprehensive income. In addition, when there has been a change recognized directly in the equity of the associate or joint venture, the Group recognizes its share of any changes, when applicable, in the consolidated statement of changes in equity. Unrealized gains and losses resulting from transactions between the Group and its associates or joint ventures are eliminated to the extent of the Group’s investments in the associates or joint ventures, except where unrealized losses provide evidence of an impairment of the asset transferred. Goodwill arising from the acquisition of associates or joint ventures is included as part of the Group’s investments in associates or joint ventures. If an investment in an associate becomes an investment in a joint venture or vice versa, the retained interest is not remeasured. Instead, the investment continues to be accounted for under the equity method. In all other cases, upon loss of significant influence over the associate or joint control over the joint venture, the Group measures and recognizes any retained investment at its fair value. Any difference between the carrying amount of the associate or joint venture upon loss of significant influence or joint control and the fair value of the retained investment and proceeds from disposal is recognized in profit or loss. When an investment in an associate or a joint venture is classified as held for sale, it is accounted for in accordance with IFRS 5 Non-current |
Foreign currencies | Foreign currencies (i) Functional currency Items included in the financial statements of each of the Group’s entities are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). The financial statements are presented in “RMB”, which is the Company’s functional currency. (ii) Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in profit or loss within “finance income” or “finance costs”. |
Revenue recognition | Revenue recognition (applicable from January 1, 2018) Revenue from contracts with customers Revenue from contracts with customers is recognized when control of goods or services is transferred to the customers at an amount that reflects the consideration to which the Group expects to be entitled in exchange for those goods or services. When the consideration in a contract includes a variable amount, the amount of consideration is estimated to which the Group will be entitled in exchange for transferring the goods or services to the customer. The variable consideration is estimated at contract inception and constrained until it is highly probable that a significant revenue reversal in the amount of cumulative revenue recognized will not occur when the associated uncertainty with the variable consideration is subsequently resolved. When the contract contains a financing component which provides the customer with a significant benefit of financing the transfer of goods or services to the customer for more than one year, revenue is measured at the present value of the amount receivable, discounted using the discount rate that would be reflected in a separate financing transaction between the Group and the customer at contract inception. When the contract contains a financing component which provides the Group with a significant financial benefit for more than one year, revenue recognized under the contract includes the interest expense accreted on the contract liability under the effective interest method. For a contract where the period between the payment by the customer and the transfer of the promised goods or services is one year or less, the transaction price is not adjusted for the effects of a significant financing component, using the practical expedient in IFRS 15. (a) Passenger, cargo and mail revenues are recognized as traffic revenue when the transportation is provided or when ticket breakage occurs. The value of sold but unused tickets is included in contract liabilities as sales in advance of carriage (“SIAC”). The Group estimates the value of passenger ticket breakage based on historical trends and experience and recognizes revenue at the scheduled flight date. (b) Revenues from the provision of ground services, tour services, ticket cancellation services and other travel related services are recognized when the services are rendered. (c) Commission income represents amounts earned from other carriers in respect of sales made by the Group on their behalf, and is recognized upon ticket sales. (d) The Group operates a frequent flyer program called “Eastern Miles” that issues mileage points to program members based on accumulated mileage. The Group defers a portion of passenger revenue attributable to the mileage points issued based on the relative standalone selling price approach and recognizes revenue when the mileage points are redeemed and performance obligations are fulfilled or the mileage points expire unused. The standalone selling price of the mileage points was estimated based on the historical prices of equivalent flights and goods provided for mileage points redeemed and was adjusted for mileage points that are not expected to be redeemed (“mileage points breakage”). (e) Revenue from the sale of goods is recognized at the point in time when control of the asset is transferred to the customer. Revenue from other sources Rental income is recognized on a time proportion basis over the lease terms. Variable lease payments that do not depend on an index or a rate are recognized as income in the accounting period in which they are incurred. Other income Interest income is recognized on an accrual basis using the effective interest method by applying the rate that exactly discounts the estimated future cash receipts over the expected life of the financial instrument or a shorter period, when appropriate, to the net carrying amount of the financial asset. Dividend income is recognized when the shareholders’ right to receive payment has been established, it is probable that the economic benefits associated with the dividend will flow to the Group and the amount of the dividend can be measured reliably. Contract liabilities (applicable from January 1, 2018) A contract liability is recognized when a payment is received or a payment is due (whichever is earlier) from a customer before the Group transfers the related goods or services. Contract liabilities are recognized as revenue when the Group performs under the contract (i.e., transfers control of the related goods or services to the customer). Revenue recognition (applicable before January 1, 2018) Revenue comprises the fair value of the consideration received or receivable for the provision of services and the sale of goods in the ordinary course of the Group’s activities. Revenue is stated net of business taxes or value-added taxes, returns, rebates and discounts and after eliminating sales within the Group. Revenue is recognized when it is probable that the economic benefits will flow to the Group and when the revenue can be measured reliably, on the following basis: (i) Traffic revenues Passenger, cargo and mail revenues are recognized as traffic revenues when the transportation services are provided. The value of sold but unused tickets is recognized as sales in advance of carriage (“SIAC”). (ii) Ground service income and tour operation revenues Revenues from the provision of ground services, tour, travel services and other travel related services are recognized when the services are rendered. (iii) Cargo handling income Revenues from the provision of cargo handling services are recognized when the services are rendered. (iv) Commission income Commission income represents amounts earned from other carriers in respect of sales made by the Group on their behalf, and is recognized in profit or loss upon ticket sales. (v) Other revenue Revenues from other operating businesses, including income derived from the provision of freight forwarding, are recognized when the services are rendered. (vi) Frequent flyer program The Group operates a frequent flyer program that provide travel awards to program members based on accumulated miles. A portion of passenger revenue attributable to the award of frequent flyer benefits is deferred and recognized when the miles have been redeemed or have expired. (vii) Interest income Interest income is recognized on a time-proportion basis using the effective interest rate method. The amount of revenue is not considered to be reliably measurable until all contingencies relating to the sales have been resolved. The Group bases its estimates on historical results, taking into consideration the type of customer, the type of transaction and the specifics of each arrangement. |
Government grants | Government grants Grants from the government are recognized at their fair value where there is a reasonable assurance that the grant will be received and the Group will comply with all attached conditions. When the grant relates to an expense item, it is recognized as income on a systematic basis over the periods that the costs, which it is intended to compensate are expensed. Where the grant relates to an asset, the fair value is credited to a deferred income account and is released to profit or loss over the expected useful life of the relevant asset by equal annual instalments. |
Maintenance and overhaul costs | Maintenance and overhaul costs Overhaul costs that meet specific recognition criteria are capitalized as a component of property, plant and equipment or right-of-use assets and are depreciated over the appropriate maintenance cycles. Certain lease arrangements contain provisions that the Group has obligations to fulfill certain return conditions at the end of lease term. The Group estimated lease return costs for aircraft and engines and recognized such costs as part of the right-of-use asset and are depreciated during the lease term (applicable from January 1, 2019). Provision for the estimated leas return costs for aircraft and engines is made on a straight-line basis over the lease term (applicable before January 1, 2019). All other repairs and maintenance costs are charged to profit or loss as and when incurred. |
Borrowing costs | Borrowing costs Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, i.e., assets that necessarily take a substantial period of time to get ready for their intended use or sale, are capitalized as part of the cost of those assets. The capitalization of such borrowing costs ceases when the assets are substantially ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs capitalized. All other borrowing costs are expensed in the period in which they are incurred. Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowing of funds. |
Income tax | Income tax Income tax comprises current and deferred tax. Income tax relating to items recognized outside profit or loss is recognized outside profit or loss, either in other comprehensive income or directly in equity. Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period, taking into consideration interpretations and practices prevailing in the countries in which the Group operates. Deferred tax is provided, using the liability method, on all temporary differences at the end of the reporting period between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. Deferred tax liabilities are recognized for all taxable temporary differences, except: • when the deferred tax liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; and • in respect of taxable temporary differences associated with investments in subsidiaries, associates and joint ventures, when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future. Deferred tax assets are recognized for all deductible temporary differences, and the carryforward of unused tax credits and any unused tax losses. Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, the carryforward of unused tax credits and unused tax losses can be utilized, except: • when the deferred tax asset relating to the deductible temporary differences arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; and • in respect of deductible temporary differences associated with investments in subsidiaries, associates and joint ventures, deferred tax assets are only recognized to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilized. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Unrecognized deferred tax assets are reassessed at the end of each reporting period and are recognized to the extent that it has become probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax assets and deferred tax liabilities are offset if and only if the Group has a legally enforceable right to set off current tax assets and current tax liabilities and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realize the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered. |
Business combinations and goodwill | Business combinations and goodwill Business combinations not under common control are accounted for using the acquisition method. The consideration transferred is measured at the acquisition date fair value which is the sum of the acquisition date fair values of assets transferred by the Group, liabilities assumed by the Group to the former owners of the acquiree and the equity interests issued by the Group in exchange for control of the acquiree. For each business combination, the Group elects whether to measure the non-controlling interests in the acquiree that are present ownership interests and entitle their holders to a proportionate share of net assets in the event of liquidation at fair value or at the proportionate share of the acquiree’s identifiable net assets. All other components of non-controlling interests are measured at fair value. Acquisition-related costs are expensed as incurred. When the Group acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions as at the acquisition date. This includes the separation of embedded derivatives in host contracts of the acquiree. If the business combination is achieved in stages, the previously held equity interest is remeasured at its acquisition date fair value and any resulting gain or loss is recognized in profit or loss. Any contingent consideration to be transferred by the acquirer is recognized at fair value at the acquisition date. Contingent consideration classified as an asset or liability is measured at fair value with changes in fair value recognized in profit or loss. Contingent consideration that is classified as equity is not remeasured and subsequent settlement is accounted for within equity. Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred, the amount recognized for non-controlling interests and any fair value of the Group’s previously held equity interests in the acquiree over the identifiable net assets acquired and liabilities assumed. If the sum of this consideration and other items is lower than the fair value of the net assets acquired, the difference is, after reassessment, recognized in profit or loss as a gain on bargain purchase. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. Goodwill is tested for impairment annually or more frequently if events or changes in circumstances indicate that the carrying value may be impaired. The Group performs its annual impairment test of goodwill as at December 31. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Group’s cash-generating units, or groups of cash-generating units, that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the Group are assigned to those units or groups of units. Impairment is determined by assessing the recoverable amount of the cash-generating unit (group of cash-generating units) to which the goodwill relates. Where the recoverable amount of the cash-generating unit (group of cash-generating units) is less than the carrying amount, an impairment loss is recognized. An impairment loss recognized for goodwill is not reversed in a subsequent period. Where goodwill has been allocated to a cash-generating unit (or group of cash-generating units) and part of the operation within that unit is disposed of, the goodwill associated with the operation disposed of is included in the carrying amount of the operation when determining the gain or loss on the disposal. Goodwill disposed of in these circumstances is measured based on the relative value of the operation disposed of and the portion of the cash-generating unit retained. |
Intangible assets | Intangible assets (other than goodwill) (i) Computer software costs Acquired computer software licenses are capitalized on the basis of the costs incurred to acquire and bring to use the specific software. These costs are amortized using the straight-line method over their estimated useful lives of 5 years. Costs associated with developing or maintaining computer software programs are recognized as expenses when incurred. (ii) Others Others relate to the capitalized costs incurred to acquire the use right of certain flight schedules (i.e. timeslots for flights’ taking off/landing) in Guangzhou Baiyun International Airport Co., Ltd. and Shanghai Pudong International Airport, respectively. These costs are amortized using the straight-line method over their useful lives of 3 years. |
Deferred pilot recruitment costs | Deferred pilot recruitment costs Deferred pilot recruitment costs represent the costs borne by the Group in connection with securing a certain minimum period of employment of pilots and are amortized on a straight-line basis over the anticipated beneficial period of 5 years, starting from the date the pilot joins the Group. |
Related parties | Related parties A party is considered to be related to the Group if: (a) the party is a person or a close member of that person’s family and that person: (i) has control or joint control over the Group; (ii) has significant influence over the Group; or (iii) is a member of the key management personnel of the Group or of a parent of the Group; or (b) the party is an entity where any of the following conditions applies: (i) the entity and the Group are members of the same group; (ii) one entity is an associate or joint venture of the other entity (or of a parent, subsidiary or fellow subsidiary of the other entity); (iii) the entity and the Group are joint ventures of the same third party; (iv) one entity is a joint venture of a third entity and the other entity is an associate of the third entity; (v) the entity is a post-employment benefit plan for the benefit of employees of either the Group or an entity related to the Group and the sponsoring employers of the post-employment benefit plan; (vi) the entity is controlled or jointly controlled by a person identified in (a); (vii) a person identified in (a)(i) has significant influence over the entity or is a member of the key management personnel of the entity (or of a parent of the entity); and (viii) the entity, or any member of a group of which it is a part, provides key management personnel services to the Group or to the parent of the Group. |
Property, plant and equipment | Property, plant and equipment Property, plant and equipment, other than construction in progress, are stated at cost less accumulated depreciation and any impairment losses. When an item of property, plant and equipment is classified as held for sale or when it is part of a disposal group classified as held for sale, it is not depreciated and is accounted for in accordance with IFRS 5, as further explained in the accounting policy for “Non-current When each major aircraft overhaul is performed, its cost is recognized in the carrying amount of the item of property, plant and equipment and is depreciated over the appropriate maintenance cycles. Components related to airframe overhaul cost, are depreciated on a straight-line basis over 5 to 7.5 years. Components related to engine overhaul costs, are depreciated between each overhaul period using the ratio of actual flying hours and estimated flying hours between overhauls. Upon completion of an overhaul, any remaining carrying amount of the cost of the previous overhaul is derecognized and charged to profit or loss. Except for components related to overhaul costs, the depreciation method of which has been described in the preceding paragraph, other depreciation of property, plant and equipment is calculated using the straight-line method to write off their costs to their residual values over their estimated useful lives, as follows: Owned aircraft and engines 15 to 20 years Other flight equipment, including rotables 10 years Buildings 8 to 45 years Other property, plant and equipment 3 to 20 years Where parts of an item of property, plant and equipment have different useful lives, the cost of that item is allocated on a reasonable basis among the parts and each part is depreciated separately. Residual values, useful lives and the depreciation method are reviewed, and adjusted if appropriate, at least at each financial year end. An item of property, plant and equipment including any significant part initially recognized is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss on disposal or retirement recognized in the statement of profit or loss in the year the asset is derecognized is the difference between the net sales proceeds and the carrying amount of the relevant asset. Construction in progress represents a building under construction, which is stated at cost less any impairment losses, and is not depreciated. Cost comprises the direct costs of construction and capitalized borrowing costs on related borrowed funds during the period of construction. Construction in progress is reclassified to the appropriate category of property, plant and equipment when completed and ready for use. |
Investment properties | Investment properties Investment properties are interests in land and buildings held to earn rental income and/or for capital appreciation, rather than for use in the production or supply of goods or services or for administrative purposes; or for sale in the ordinary course of business. Such properties are measured initially at cost, including transaction costs. After initial recognition, the Group chooses the cost model to measure all of its investment properties. Depreciation is calculated on the straight-line basis to write off the cost to its residual value over its estimated useful life. The estimated useful lives are as follows: Buildings 30 to 35 years The carrying amounts of investment properties measured using the cost method are reviewed for impairment when events or changes in circumstances indicate that the carrying amounts may not be recoverable. Any gains or losses on the retirement or disposal of an investment property are recognized in profit or loss in the year of the retirement or disposal. |
Impairment of non-financial assets | Impairment of non-financial Where an indication of impairment exists, or when annual impairment testing for an asset is required (other than inventories, contract assets, deferred tax assets, financial assets, investment properties and non-current An impairment loss is recognized only if the carrying amount of an asset exceeds its recoverable amount. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax An assessment is made at the end of each reporting period as to whether there is an indication that previously recognized impairment losses may no longer exist or may have decreased. If such an indication exists, the recoverable amount is estimated. A previously recognized impairment loss of an asset other than goodwill is reversed only if there has been a change in the estimates used to determine the recoverable amount of that asset, but not to an amount higher than the carrying amount that would have been determined (net of any depreciation/amortization) had no impairment loss been recognized for the asset in prior years. A reversal of such an impairment loss is credited to profit or loss in the period in which it arises, unless the asset is carried at a revalued amount, in which case the reversal of the impairment loss is accounted for in accordance with the relevant accounting policy for that revalued asset. |
Non-current assets and disposal groups held for sale | Non-current Non-current non-controlling Non-current |
Prepayments for land use rights | Prepayments for land use rights (applicable before January 1, 2019) Prepayments for land use rights under operating leases are initially stated at cost and subsequently recognized on the straight-line basis over the lease terms. |
Advanced payments on acquisition of aircraft | Advanced payments on acquisition of aircraft Advanced payments on acquisition of aircraft represent payments to aircraft manufacturers to secure deliveries of aircraft in future years, including attributable borrowing costs, and are included in non-current |
Flight equipment spare parts | Flight equipment spare parts Flight equipment spare parts are stated at the lower of cost and net realizable value. Cost is determined using the weighted average method. The cost of flight equipment spare parts comprises the purchase price (net of discounts), freight charges, duty and other miscellaneous charges. Net realizable value is the estimated selling price of the flight equipment spare parts in the ordinary course of business, less applicable selling expenses. |
Investments and other financial assets | Investments and other financial assets (policies under IFRS 9 applicable from January 1, 2018) Initial recognition and measurement Financial assets are classified, at initial recognition, as subsequently measured at amortized cost, fair value through other comprehensive income, and fair value through profit or loss. The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flow characteristics and the Group’s business model for managing them. With the exception of trade receivables that do not contain a significant financing component or for which the Group has applied the practical expedient of not adjusting the effect of a significant financing component, the Group initially measures a financial asset at its fair value, plus in the case of a financial asset not at fair value through profit or loss, transaction costs. Trade receivables that do not contain a significant financing component or for which the Group has applied the practical expedient are measured at the transaction price determined under IFRS 15 in accordance with the policies set out for “Revenue recognition” (applicable from January 1, 2018). In order for a financial asset to be classified and measured at amortized cost or fair value through other comprehensive income, it needs to give rise to cash flows that are solely payments of principal and interest (“SPPI”) on the principal amount outstanding. Financial assets with cash flows that are not SPPI are classified and measured at fair value through profit or loss, irrespective of the business model. The Group’s business model for managing financial assets refers to how it manages its financial assets in order to generate cash flows. The business model determines whether cash flows will result from collecting contractual cash flows, selling the financial assets, or both. Financial assets classified and measured at amortized cost are held within a business model with the objective to hold financial assets in order to collect contractual cash flows, while financial assets classified and measured at fair value through other comprehensive income are held within a business model with the objective of both holding to collect contractual cash flows and selling. Financial assets which are not held within the aforementioned business models are classified and measured at fair value through profit or loss. All regular way purchases and sales of financial assets are recognized on the trade date, that is, the date that the Group commits to purchase or sell the asset. Regular way purchases or sales are purchases or sales of financial assets that require delivery of assets within the period generally established by regulation or convention in the marketplace. Subsequent measurement The subsequent measurement of financial assets depends on their classification as follows: Financial assets at amortized cost (debt instruments) Financial assets at amortized cost are subsequently measured using the effective interest method and are subject to impairment. Gains and losses are recognized in the statement of profit or loss when the asset is derecognized, modified or impaired. Financial assets at fair value through other comprehensive income (debt instruments) For debt investments at fair value through other comprehensive income, interest income, foreign exchange revaluation and impairment losses or reversals are recognized in the statement of profit or loss and computed in the same manner as for financial assets measured at amortized cost. The remaining fair value changes are recognized in other comprehensive income. Upon derecognition, the cumulative fair value change recognized in other comprehensive income is recycled to the statement of profit or loss. Financial assets designated at fair value through other comprehensive income (equity investments) Upon initial recognition, the Group can elect to classify irrevocably its equity investments as equity investments designated at fair value through other comprehensive income when they meet the definition of equity under IAS 32 Financial Instruments: Presentation and are not held for trading. The classification is determined on an instrument-by-instrument Gains and losses on these financial assets are never recycled to the statement of profit or loss. Dividends are recognized as other income in the statement of profit or loss when the right of payment has been established, it is probable that the economic benefits associated with the dividend will flow to the Group and the amount of the dividend can be measured reliably, except when the Group benefits from such proceeds as a recovery of part of the cost of the financial asset, in which case, such gains are recorded in other comprehensive income. Equity investments designated at fair value through other comprehensive income are not subject to impairment assessment. Financial assets at fair value through profit or loss Financial assets at fair value through profit or loss are carried in the statement of financial position at fair value with net changes in fair value recognized in the statement of profit or loss. This category includes derivative instruments and equity investments which the Group had not irrevocably elected to classify at fair value through other comprehensive income. Dividends on equity investments classified as financial assets at fair value through profit or loss are also recognized as other income in the statement of profit or loss when the right of payment has been established, it is probable that the economic benefits associated with the dividend will flow to the Group and the amount of the dividend can be measured reliably. A derivative embedded in a hybrid contract, with a financial liability or non-financial A derivative embedded within a hybrid contract containing a financial asset host is not accounted for separately. The financial asset host together with the embedded derivative is required to be classified in its entirety as a financial asset at fair value through profit or loss. Investments and other financial assets (policies under IAS 39 applicable before January 1, 2018) Initial recognition and measurement Financial assets are classified, at initial recognition, as financial assets at fair value through profit or loss, loans and receivables and available-for-sale financial investments, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. When financial assets are recognized initially, they are measured at fair value plus transaction costs that are attributable to the acquisition of the financial assets, except in the case of financial assets recorded at fair value through profit or loss. All regular way purchases and sales of financial assets are recognized on the trade date, that is, the date that the Group commits to purchase or sell the asset. Regular way purchases or sales are purchases or sales of financial assets that require delivery of assets within the period generally established by regulation or convention in the marketplace. Subsequent measurement The subsequent measurement of financial assets depends on their classification as follows: Financial assets at fair value through profit or loss Financial assets at fair value through profit or loss include financial assets held for trading and financial assets designated upon initial recognition as at fair value through profit or loss. Financial assets are classified as held for trading if they are acquired for the purpose of sale in the near term. Derivatives, including separated embedded derivatives, are also classified as held for trading unless they are designated as effective hedging instruments as defined by IAS 39. Financial assets at fair value through profit or loss are carried in the statement of financial position at fair value with positive net changes in fair value presented as other income and gains and negative net changes in fair value presented as finance costs in the statement of profit or loss. These net fair value changes do not include any dividends or interest earned on these financial assets, which are recognized in accordance with the policies set out for “Revenue recognition (applicable before January 1, 2018)”. Financial assets designated upon initial recognition as at fair value through profit or loss are designated at the date of initial recognition and only if the criteria in IAS 39 are satisfied. Derivatives embedded in host contracts are accounted for as separate derivatives and recorded at fair value if their economic characteristics and risks are not closely related to those of the host contracts and the host contracts are not held for trading or designated as at fair value through profit or loss. These embedded derivatives are measured at fair value with changes in fair value recognized in the statement of profit or loss. Reassessment only occurs if there is either a change in the terms of the contract that significantly modifies the cash flows that would otherwise be required or a reclassification of a financial asset out of the fair value through profit or loss category. Loans and receivables Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. After initial measurement, such assets are subsequently measured at amortized cost using the effective interest rate method less any allowance for impairment. Amortized cost is calculated by taking into account any discount or premium on acquisition and includes fees or costs that are an integral part of the effective interest rate. The effective interest rate amortization is included in other income and gains in the statement of profit or loss. The loss arising from impairment is recognized in the statement of profit or loss in finance costs for loans and in other expenses for receivables. Available-for-sale financial investments Available-for-sale financial investments are non-derivative financial assets in listed and unlisted equity investments and debt securities. Equity investments classified as available for sale are those which are neither classified as held for trading nor designated as at fair value through profit or loss. Debt securities in this category are those which are intended to be held for an indefinite period of time and which may be sold in response to needs for liquidity or in response to changes in market conditions. After initial recognition, available-for-sale financial investments are subsequently measured at fair value, with unrealized gains or losses recognized as other comprehensive income in the available-for-sale investment revaluation reserve until the investment is derecognized, at which time the cumulative gain or loss is recognized in the statement of profit or loss in other income, or until the investment is determined to be impaired, when the cumulative gain or loss is reclassified from the available-for-sale investment revaluation reserve to the statement of profit or loss in other gains or losses. Interest and dividends earned whilst holding the available-for-sale financial investments are reported as interest income and dividend income, respectively and are recognized in the statement of profit or loss as other income. When the fair value of unlisted equity investments cannot be reliably measured because (a) the variability in the range of reasonable fair value estimates is significant for that investment or (b) the probabilities of the various estimates within the range cannot be reasonably assessed and used in estimating fair value, such investments are stated at cost less any impairment losses. |
Derecognition of financial assets | Derecognition of financial assets (policies under IFRS 9 applicable from January 1, 2018 and policies under IAS 39 applicable before January 1, 2018) A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is primarily derecognized (i.e., removed from the Group’s consolidated statement of financial position) when: • the rights to receive cash flows from the asset have expired; or • the Group has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a “pass-through” arrangement; and either (a) the Group has transferred substantially all the risks and rewards of the asset, or (b) the Group has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset. When the Group has transferred its rights to receive cash flows from an asset or has entered into a pass-through arrangement, it evaluates if, and to what extent, it has retained the risk and rewards of ownership of the asset. When it has neither transferred nor retained substantially all the risks and rewards of the asset nor transferred control of the asset, the Group continues to recognize the transferred asset to the extent of the Group’s continuing involvement. In that case, the Group also recognizes an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Group has retained. Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum amount of consideration that the Group could be required to repay. |
Impairment of financial assets | Impairment of financial assets (policies under IFRS 9 applicable from January 1, 2018) The Group recognizes an allowance for expected credit losses (“ECLs”) for all debt instruments not held at fair value through profit or loss. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Group expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms. General approach ECLs are recognized in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12 months (a 12-month At each reporting date, the Group assesses whether the credit risk on a financial instrument has increased significantly since initial recognition. When making the assessment, the Group compares the risk of a default occurring on the financial instrument as at the reporting date with the risk of a default occurring on the financial instrument as at the date of initial recognition and considers reasonable and supportable information that is available without undue cost or effort, including historical and forward-looking information. The Group considers a financial asset in default when contractual payments are past due. However, in certain cases, the Group may also consider a financial asset to be in default when internal or external information indicates that the Group is unlikely to receive the outstanding contractual amounts in full before taking into account any credit enhancements held by the Group. A financial asset is written off when there is no reasonable expectation of recovering the contractual cash flows. Debt investments at fair value through other comprehensive income and financial assets at amortized cost are subject to impairment under the general approach and they are classified within the following stages for measurement of ECLs except for trade receivables and contract assets which apply the simplified approach as detailed below. Stage 1 – Financial instruments for which credit risk has not increased significantly since initial recognition and for which the loss allowance is measured at an amount equal to 12-month Stage 2 – Financial instruments for which credit risk has increased significantly since initial recognition but that are not credit-impaired financial assets and for which the loss allowance is measured at an amount equal to lifetime ECLs Stage 3 – Financial assets that are credit-impaired at the reporting date (but that are not purchased or originated credit-impaired) and for which the loss allowance is measured at an amount equal to lifetime ECLs Simplified approach For trade receivables and contract assets that do not contain a significant financing component or when the Group applies the practical expedient of not adjusting the effect of a significant financing component, the Group applies the simplified approach in calculating ECLs. Under the simplified approach, the Group does not track changes in credit risk, but instead recognizes a loss allowance based on lifetime ECLs at each reporting date. The Group has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment. Impairment of financial assets (policies under IAS 39 applicable before January 1, 2018) The Group assesses at the end of each reporting period whether there is objective evidence that a financial asset or a group of financial assets is impaired. An impairment exists if one or more events that occurred after the initial recognition of the asset have an impact on the estimated future cash flows of the financial asset or the group of financial assets that can be reliably estimated. Evidence of impairment may include indications that a debtor or a group of debtors is experiencing significant financial difficulty, default or delinquency in interest or principal payments, the probability that they will enter bankruptcy or other financial reorganization and observable data indicating that there is a measurable decrease in the estimated future cash flows, such as changes in arrears or economic conditions that correlate with defaults. Financial assets carried at amortized cost For financial assets carried at amortized cost, the Group first assesses whether impairment exists individually for financial assets that are individually significant, or collectively for financial assets that are not individually significant. If the Group determines that no objective evidence of impairment exists for an individually assessed financial asset, whether significant or not, it includes the asset in a group of financial assets with similar credit risk characteristics and collectively assesses them for impairment. Assets that are individually assessed for impairment and for which an impairment loss is, or continues to be, recognized are not included in a collective assessment of impairment. The amount of any impairment loss identified is measured as the difference between the asset’s carrying amount and the present value of estimated future cash flows (excluding future credit losses that have not yet been incurred). The present value of the estimated future cash flows is discounted at the financial asset’s original effective interest rate (i.e., the effective interest rate computed at initial recognition). The carrying amount of the asset is reduced through the use of an allowance account and the loss is recognized in the statement of profit or loss. Interest income continues to be accrued on the reduced carrying amount using the rate of interest used to discount the future cash flows for the purpose of measuring the impairment loss. Loans and receivables together with any associated allowance are written off when there is no realistic prospect of future recovery and all collateral has been realized or has been transferred to the Group. If, in a subsequent period, the amount of the estimated impairment loss increases or decreases because of an event occurring after the impairment was recognized, the previously recognized impairment loss is increased or reduced by adjusting the allowance account. If a write-off is later recovered, the recovery is credited to other expenses in the statement of profit or loss. Available-for-sale financial investments For available-for-sale financial investments, the Group assesses at the end of each reporting period whether there is objective evidence that an investment or a group of investments is impaired. If an available-for-sale asset is impaired, an amount comprising the difference between its cost (net of any principal payment and amortization) and its current fair value, less any impairment loss previously recognized in the statement of profit or loss, is removed from other comprehensive income and recognized in the statement of profit or loss. In the case of equity investments classified as available for sale, objective evidence would include a significant or prolonged decline in the fair value of an investment below its cost. “Significant” is evaluated against the original cost of the investment and “prolonged” against the period in which the fair value has been below its original cost. Where there is evidence of impairment, the cumulative loss – measured as the difference between the acquisition cost and the current fair value, less any impairment loss on that investment previously recognized in the statement of profit or loss – is removed from other comprehensive income and recognized in the statement of profit or loss. Impairment losses on equity instruments classified as available for sale are not reversed through the statement of profit or loss. Increases in their fair value after impairment are recognized directly in other comprehensive income. The determination of what is “significant” or “prolonged” requires judgement. In making this judgement, the Group evaluates, among other factors, the duration or extent to which the fair value of an investment is less than its cost. |
Financial liabilities | Financial liabilities (policies under IFRS 9 applicable from January 1, 2018 and IAS 39 applicable before January 1, 2018) Initial recognition and measurement Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings, payables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. All financial liabilities are recognized initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs. The Group’s financial liabilities include trade and other payables, derivative financial instruments, lease liabilities, interest-bearing bank and other borrowings. Subsequent measurement The subsequent measurement of financial liabilities depends on their classification as follows: Financial liabilities at amortized cost (loans and borrowings) After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortized cost, using the effective interest rate method unless the effect of discounting would be immaterial, in which case they are stated at cost. Gains and losses are recognized in the statement of profit or loss when the liabilities are derecognized as well as through the effective interest rate amortization process. Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the effective interest rate. The effective interest rate amortization is included in finance costs in the statement of profit or loss. |
Derecognition of financial liabilities | Derecognition of financial liabilities (policies under IFRS 9 applicable from January 1, 2018 and IAS 39 applicable before January 1, 2018) A financial liability is derecognized when the obligation under the liability is discharged or cancelled, or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as a derecognition of the original liability and a recognition of a new liability, and the difference between the respective carrying amounts is recognized in the statement of profit or loss. |
Offsetting of financial instruments | Offsetting of financial instruments (policies under IFRS 9 applicable from January 1, 2018 and IAS 39 applicable before January 1, 2018) Financial assets and financial liabilities are offset and the net amount is reported in the statement of financial position if there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, or to realize the assets and settle the liabilities simultaneously. |
Derivative financial instruments and hedge accounting | Derivative financial instruments and hedge accounting (policies under IFRS 9 applicable from January 1, 2018 and IAS 39 applicable before January 1, 2018) Initial recognition and subsequent measurement The Group uses derivative financial instruments, such as forward currency contracts and interest rate swaps, to hedge its foreign currency risk and interest rate risk, respectively. Such derivative financial instruments are initially recognized at fair value on the date on which a derivative contract is entered into and are subsequently remeasured at fair value. Derivatives are carried as assets when the fair value is positive and as liabilities when the fair value is negative. The fair value of commodity purchase contracts that meet the definition of a derivative as defined by IFRS 9 and IAS 39 is recognized in the statement of profit or loss as cost of sales. Commodity contracts that are entered into and continue to be held for the purpose of the receipt or delivery of a non-financial item in accordance with the Group’s expected purchase, sale or usage requirements are held at cost. Any gains or losses arising from changes in fair value of derivatives are taken directly to the statement of profit or loss, except for the effective portion of cash flow hedges, which is recognized in other comprehensive income and later reclassified to profit or loss when the hedged item affects profit or loss. For the purpose of hedge accounting, hedges are classified as: • fair value hedges when hedging the exposure to changes in the fair value of a recognized asset or liability or an unrecognized firm commitment; or • cash flow hedges when hedging the exposure to variability in cash flows that is either attributable to a particular risk associated with a recognized asset or liability or a highly probable forecast transaction, or a foreign currency risk in an unrecognized firm commitment; or • hedges of a net investment in a foreign operation. At the inception of a hedge relationship, the Group formally designates and documents the hedge relationship to which the Group wishes to apply hedge accounting, the risk management objective and its strategy for undertaking the hedge. The documentation includes identification of the hedging instrument, the hedged item, the nature of the risk being hedged and how the Group will assess whether the hedging relationship meets the hedge effectiveness requirements (including the analysis of sources of hedge ineffectiveness and how the hedge ratio is determined). A hedging relationship qualifies for hedge accounting if it meets all of the following effectiveness requirements: • There is “an economic relationship” between the hedged item and the hedging instrument. • The effect of credit risk does not “dominate the value changes” that result from that economic relationship. • The hedge ratio of the hedging relationship is the same as that resulting from the quantity of the hedged item that the Group actually hedges and the quantity of the hedging instrument that the Group actually uses to hedge that quantity of hedged item. Hedges which meet all the qualifying criteria for hedge accounting are accounted for as follows: Cash flow hedges The effective portion of the gain or loss on the hedging instrument is recognized directly in other comprehensive income in the cash flow hedge reserve, while any ineffective portion is recognized immediately in the statement of profit or loss. The cash flow hedge reserve is adjusted to the lower of the cumulative gain or loss on the hedging instrument and the cumulative change in fair value of the hedged item. The amounts accumulated in other comprehensive income are accounted for, depending on the nature of the underlying hedged transaction. If the hedged transaction subsequently results in the recognition of a non-financial non-financial non-financial For any other cash flow hedges, the amount accumulated in other comprehensive income is reclassified to the statement of profit or loss as a reclassification adjustment in the same period or periods during which the hedged cash flows affect the statement of profit or loss. If cash flow hedge accounting is discontinued, the amount that has been accumulated in other comprehensive income must remain in accumulated other comprehensive income if the hedged future cash flows are still expected to occur. Otherwise, the amount will be immediately reclassified to the statement of profit or loss as a reclassification adjustment. After the discontinuation, once the hedged cash flow occurs, any amount remaining in accumulated other comprehensive income is accounted for depending on the nature of the underlying transaction as described above. Fair value hedges The change in the fair value of a hedging instrument is recognized in the statement of profit or loss as other expenses. The change in the fair value of the hedged item attributable to the risk hedged is recorded as a part of the carrying amount of the hedged item and is also recognized in the statement of profit or loss as other expenses. For fair value hedges relating to items carried at amortized cost, the adjustment to carrying value is amortized through the statement of profit or loss over the remaining term of the hedge using the effective interest rate method. Effective interest rate amortization may begin as soon as an adjustment exists and shall begin no later than when the hedged item ceases to be adjusted for changes in its fair value attributable to the risk being hedged. If the hedged item is derecognized, the unamortized fair value is recognized immediately in the statement of profit or loss. When an unrecognized firm commitment is designated as a hedged item, the subsequent cumulative change in the fair value of the firm commitment attributable to the hedged risk is recognized as an asset or liability with a corresponding gain or loss recognized in the statement of profit or loss. The changes in the fair value of the hedging instrument are also recognized in the statement of profit or loss. Current versus non-current Derivative instruments that are not designated as effective hedging instruments are classified as current or non-current non-current • Where the Group expects to hold a derivative as an economic hedge (and does not apply hedge accounting) for a period beyond 12 months after the end of the reporting period, the derivative is classified as non-current non-current • Embedded derivatives that are not closely related to the host contract are classified consistently with the cash flows of the host contract. • Derivative instruments that are designated as, and are effective hedging instruments, are classified consistently with the classification of the underlying hedged item. The derivative instruments are separated into current portions and non-current |
Cash and cash equivalents | Cash and cash equivalents For the purpose of the consolidated statement of cash flows, cash and cash equivalents comprise cash on hand and demand deposits, and short term highly liquid investments that are readily convertible into known amounts of cash, are subject to an insignificant risk of changes in value, and have a short maturity of generally within three months when acquired, less bank overdrafts which are repayable on demand and form an integral part of the Group’s cash management. For the purpose of the statement of financial position, cash and cash equivalents comprise cash on hand and at banks, including assets similar in nature to cash, which are not restricted as to use. |
Provisions | Provisions A provision is recognized when a present obligation (legal or constructive) has arisen as a result of a past event and it is probable that a future outflow of resources will be required to settle the obligation, provided that a reliable estimate can be made of the amount of the obligation. When the effect of discounting is material, the amount recognized for a provision is the present value at the end of the reporting period of the future expenditures expected to be required to settle the obligation. The increase in the discounted present value amount arising from the passage of time is included in finance costs in the statement of profit or loss. Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognized even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax For the contract under which the unavoidable costs of meeting the obligations under the contract exceed the economic benefits expected to be received under it, the present obligation under the contract is recognized and measured as a provision. |
Leases | Leases (applicable from January 1, 2019) The Group assesses at contract inception whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. (i) As lessee The Group applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value right-of-use (a) Right-of-use Right-of-use Right-of-use right-of-use right-of-use Right-of-use Aircraft and engines under leases 8 to 12 years Buildings 2 to 10 years Prepayments for land use rights 50 years Others 2 to 5 years If ownership of the leased asset transfers to the Group by the end of the lease term or the cost reflects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. (b) Lease liabilities Lease liabilities are recognized at the commencement date of the lease at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in-substance In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in lease payments (e.g., a change to future lease payments resulting from a change in an index or rate) or a change in assessment of an option to purchase the underlying asset. (c) Short-term leases and leases of low-value The Group applies the short-term lease recognition exemption to its short-term leases (that is those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the recognition exemption for leases of low-value low-value (ii) As lessor When the Group acts as a lessor, it classifies at lease inception (or when there is a lease modification) each of its leases as either an operating lease or a finance lease. Leases in which the Group does not transfer substantially all the risks and rewards incidental to ownership of an asset are classified as operating leases. When a contract contains lease and non-lease Leases that transfer substantially all the risks and rewards incidental to ownership of an underlying asset to the lessee are accounted for as finance leases. Leases (applicable before January 1, 2019) (i) As lessee Finance leases Leases where the Group has acquired substantially all the risks and rewards of ownership are classified as finance leases. Finance leases are capitalized at the lease’s commencement at the lower of the fair value of the assets and the present value of the minimum lease payments. Each lease payment is allocated between the liability and finance charges. The corresponding rental obligations, net of finance charges, are included in the current portion of obligations under finance leases and obligations under finance leases, respectively. The interest element of the finance costs is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. Leased assets are depreciated using a straight-line basis over their expected useful lives to residual values. For sale and leaseback transactions resulting in a finance lease, the Group continues to recognize the transferred asset and recognize a financial liability equal to the transfer proceeds. Operating leases Leases in which a significant portion of the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases (net of any incentives received from the lessor) are charged to profit or loss on a straight-line basis over the period of the lease. For sale and leaseback transactions resulting in an operating lease, differences between sales proceeds and net book values are recognized immediately in profit or loss, except to the extent that any profit or loss is compensated for by future lease payments at above or below the market value, then the profit or loss is deferred and amortized over the period for which the asset is expected to be used. (ii) As lessor Assets leased out under operating leases are included in property, plant and equipment in the statement of financial position. They are depreciated over their expected useful lives on a basis consistent with similar property, plant and equipment. Rental income is recognized on a straight-line basis over the lease term. |
Retirement benefits | Retirement benefits (i) Defined contribution plans The Group participates in schemes regarding pension and medical benefits for employees organized by the municipal governments of the relevant provinces. Contributions to these schemes are expensed as incurred. The Group also implements an additional defined contribution pension benefit scheme (annuity) for voluntary eligible employees. Contributions are made based on a percentage of the employees’ total salaries and are charged to profit or loss as incurred. (ii) Defined benefit plan The Group provides eligible retirees with certain post-retirement benefits including retirement subsidies, transportation allowance as well as other welfare. The defined post-retirement benefits are unfunded. The cost of providing benefits under the post-retirement benefit plan is determined using the projected unit credit actuarial valuation method. Remeasurements arising from the post-retirement benefit plan, comprising actuarial gains and losses, the effect of the asset ceiling (excluding net interest) and the return on plan assets (excluding net interest), are recognized immediately in the consolidated statement of financial position with a corresponding debit or credit to equity through other comprehensive income in the period in which they occur. Remeasurements are not reclassified to profit or loss in subsequent periods. Past service costs are recognized in profit or loss at the earlier of: • the date of the plan amendment or curtailment; and • the date that the Group recognizes restructuring-related costs Net interest is calculated by applying the discount rate to the net defined benefit liability or asset. The Group recognizes the following changes in the net defined benefit obligation under “Wages, salaries and benefits” and “Finance costs” in profit or loss: • service costs comprising current service costs, past-service costs, gains and losses on curtailments and non-routine • net interest expense |
Dividend distribution | Dividend distribution Dividend distribution to the Company’s shareholders is recognized as a liability in the consolidated financial statements in the period in which the dividends are approved by the Company’s shareholders. Proposed final dividends are disclosed in the notes to the consolidated financial statements. |
Fair value measurement | Fair value measurement The Group measures its derivative financial instruments and equity investments at fair value at the end of each reporting period. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either in the principal market for the asset or liability, or in the absence of a principal market, in the most advantageous market for the asset or liability. The principal or the most advantageous market must be accessible by the Group. The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. A fair value measurement of a non-financial The Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs. All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole: Level 1 – based on quoted prices (unadjusted) in active markets for identical assets or liabilities Level 2 – based on valuation techniques for which the lowest level input that is significant to the fair value measurement is observable, either directly or indirectly Level 3 – based on valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable For assets and liabilities that are recognized in the financial statements on a recurring basis, the Group determines whether transfers have occurred between levels in the hierarchy by reassessing categorization (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period. |
Corporate and Group Informati_2
Corporate and Group Information (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Principal Subsidiaries | Particulars of the Company’s principal subsidiaries at the end of the reporting period are as follows: Name Place and date of Issued ordinary/ registered share Percentage of place of business capital Direct Indirect Principal activities million China Eastern Airlines Jiangsu Co., Ltd. (“CEA Jiangsu”) PRC/Mainland China April 7, 1993 RMB2,000 62.56 % — Provision of airline services China Eastern Airlines Wuhan Co., Ltd. (“CEA Wuhan”) PRC/Mainland China August 16, 2002 RMB1,750 60 % — Provision of airline services Shanghai Eastern Flight Training Co., Ltd. (“Shanghai Flight Training”) PRC/Mainland China December 18, 1995 RMB694 100 % — Provision of flight training services Shanghai Airlines Co., Ltd. (“Shanghai Airlines”) PRC/Mainland China March 16, 2010 RMB500 100 % — Provision of airline services China Eastern Airlines Technology Co., Ltd. (“Eastern Technology”) PRC/Mainland China November 19, 2014 RMB4,300 100 % — Provision of airline maintenance services One two three Airlines Co., Ltd. (“OTT Airlines”) (Originally named Eastern Business Airlines Co., Ltd.) PRC/Mainland China September 27, 2008 RMB1,500 100 % — Provision of business aviation services China Eastern Airlines Yunnan Co., Ltd. (“CEA Yunnan”) PRC/Mainland China August 2, 2011 RMB3,662 90.36 % — Provision of airline services Eastern Air Overseas (Hong Kong) Co., Ltd. (“Eastern Air Overseas”) Hong Kong June 10, 2011 HKD280 100 % — Provision of import and export, investment, leasing and consultation services China United Airlines Co., Ltd. (“China United Airlines”) PRC/Mainland China September 21, 1984 RMB1,320 100 % — Provision of airline services Eastern Airlines Hotel Co., Ltd. PRC/Mainland China March 18, 1998 RMB70 100 % — Provision of hotel services primarily to crew China Eastern Airlines Application Development Center Co., Ltd. (“Application Development Center”) PRC/Mainland China November 21, 2011 RMB498 100 % — Provision of research and development of technology and products in the field of aviation China Eastern Airlines E-Commerce Co., Ltd. (“Eastern E-Commerce”) PRC/Mainland China December 1, 2014 RMB50 100 % — E-commerce platform and ticket agent |
Changes in Accounting Policie_2
Changes in Accounting Policies and Disclosures (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of impacts arising from the adoption of IFRS 16 | The impacts arising from the adoption of IFRS 16 at January 1, 2019 was as follows: Increase/(decrease) RMB million Assets Increase in right-of-use 128,312 Decrease in property, plant and equipment (94,416 ) Decrease in prepayments for land use rights (1,387 ) Decrease in prepayments and other receivables (403 ) Increase in deferred tax assets 470 Increase in total assets 32,576 Liabilities Increase in lease liabilities 109,306 Increase in provision for lease return costs for aircraft and engines 3,654 Decrease in obligations under finance leases (77,427 ) Decrease in other long-term liabilities (1,115 ) Decrease in deferred tax liabilities (84 ) Increase in total liabilities 34,334 Decrease in retained profits (1,595 ) Decrease in non-controlling (163 ) |
Summary of reconcilation between lease liabilities and operating lease commitments | The lease liabilities as at January 1, 2019 reconciled to the operating lease commitments as at December 31, 2018 are as follows: RMB million Operating lease commitments as at December 31, 2018 37,278 Less: Commitments relating to short-term leases and those leases with a remaining lease term ended on or before December 31, 2019 (206 ) Commitments relating to leases of low-value (1 ) 37,071 Weighted average incremental borrowing rate as at January 1, 2019 4.09 % Discounted operating lease commitments as at January 1, 2019 31,879 Add: Obligations under finance leases recognized as at December 31, 2018 77,427 Lease liabilities as at January 1, 2019 109,306 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Property, Plant and Equipment Estimated Useful Lives | Except for components related to overhaul costs, the depreciation method of which has been described in the preceding paragraph, other depreciation of property, plant and equipment is calculated using the straight-line method to write off their costs to their residual values over their estimated useful lives, as follows: Owned aircraft and engines 15 to 20 years Other flight equipment, including rotables 10 years Buildings 8 to 45 years Other property, plant and equipment 3 to 20 years |
Summary of Investment Property Estimated Useful Lives | Depreciation is calculated on the straight-line basis to write off the cost to its residual value over its estimated useful life. The estimated useful lives are as follows: Buildings 30 to 35 years |
Summay of estimated useful lives of the assets under right of use assets | Right-of-use Aircraft and engines under leases 8 to 12 years Buildings 2 to 10 years Prepayments for land use rights 50 years Others 2 to 5 years |
Operating Segment Information (
Operating Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Segment Results | The segment results for the year ended December 31, 2019 were as follows: Airline transportation operations RMB million Other segments RMB Eliminations Unallocated* Total Segment revenue Reportable segment revenue from external customers 119,240 1,620 — — 120,860 Inter-segment sales — 2,052 (2,052 ) — — Reportable segment revenue 119,240 3,672 (2,052 ) — 120,860 Reportable segment profit before income tax 2,745 1,164 — 393 4,302 Other segment information Depreciation and amortization 21,816 261 — — 22,077 Impairment charges / Impairment losses on financial assets, net 20 — — — 20 Interest income 108 1 (13 ) — 96 Interest expense 5,152 30 (13 ) — 5,169 Capital expenditure 42,853 303 — — 43,156 The segment results for the year ended December 31, 2018 were as follows: Airline RMB million Other RMB million Eliminations RMB million Unallocated* RMB million Total RMB million Segment revenue Reportable segment revenue from external customers 112,228 2,702 — — 114,930 Inter-segment sales — 1,425 (1,425 ) — — Reportable segment revenue 112,228 4,127 (1,425 ) — 114,930 Reportable segment profit before income tax 2,723 622 — 522 3,867 Other segment information Depreciation and amortization 15,051 251 — — 15,302 Impairment charges/ Impairment losses on financial assets, net 338 7 — — 345 Interest income 118 1 (9 ) — 110 Interest expense 3,721 15 (9 ) — 3,727 Capital expenditure* 30,670 508 — — 31,178 * Capital expenditure consists of additions to property, plant and equipment, right-of-use assets, construction in process, investment properties, intangible assets and long-term deferred assets. The segment assets and liabilities as at December 31, 2019 and December 31, 2018 were as follows: Airline RMB million Other RMB million Eliminations RMB million Unallocated* RMB million Total RMB million At December 31, 2019 Reportable segment assets 274,578 6,225 (1,943 ) 4,076 282,936 Reportable segment liabilities 211,035 3,146 (1,943 ) 301 212,539 At December 31, 2018 Reportable segment assets 230,533 4,635 (2,248 ) 3,845 236,765 Reportable segment liabilities 176,836 2,712 (2,248 ) 113 177,413 * Unallocated assets primarily represent investments in associates and joint ventures, derivative financial instruments, equity investments designated at fair value through other comprehensive income and a financial asset at fair value through profit or loss. Unallocated results primarily represent the share of results of associates and joint ventures, fair value changes of derivative financial instruments, fair value changes of a financial asset at fair value through profit or loss and dividend income relating to equity investments. |
Summary of Revenues by Geographical Area | 2019 2018 2017 RMB million RMB million RMB million Domestic (the PRC, excluding Hong Kong, Macau and Taiwan) 80,058 76,517 67,923 International 37,082 34,744 3,624 Regional (Hong Kong, Macau and Taiwan) 3,846 4,017 30,928 Total 120,986 115,278 102,475 |
Summary of Reconciliation of Reportable Segment Revenues, Profit, Assets and Liabilities | 2019 2018 2017 Note RMB million RMB million RMB million Revenue Reportable segment revenue 120,860 114,930 101,721 - Reclassification of expired sales in advance of carriage (i) — — 357 - Reclassification of taxes relating to the expired tickets (i) 126 348 397 Consolidated revenue 120,986 115,278 102,475 2019 2018 2017 Note RMB million RMB million RMB million Profit before income tax Reportable segment profit before income tax 4,302 3,867 8,620 - Differences in depreciation charges for aircraft and engines due to different depreciation lives (ii) (3 ) (11 ) (10 ) Consolidated profit before income tax 4,299 3,856 8,610 2019 2018 Notes RMB million RMB million Assets Reportable segment assets 282,936 236,765 - Differences in depreciation charges for aircraft and engines due to different depreciation lives (ii) 7 10 - Difference in intangible asset arising from the acquisition of Shanghai Airlines (iii) 2,242 2,242 Consolidated assets 285,185 239,017 2019 2018 RMB million RMB million Liabilities Reportable segment liabilities 212,539 177,413 - Others — 3 Consolidated liabilities 212,539 177,416 Notes: (i) The difference represents the different classification of sales related taxes under the PRC Accounting Standards and IFRSs. (ii) The difference is attributable to the differences in the useful lives and residual values of aircraft and engines adopted for depreciation purposes in prior years under the PRC Accounting Standards and IFRSs. Despite the depreciation policies of these assets which have been unified under IFRSs and the PRC Accounting Standards in recent years, the changes were applied prospectively as changes in accounting estimates which result in the differences in the carrying amounts and related depreciation charges under IFRSs and the PRC Accounting Standards. (iii) The difference represents the different measurement of the fair value of acquisition cost of the shares from Shanghai Airlines between the PRC Accounting standards and IFRSs, which results in the different measurement of goodwill. |
Revenues (Tables)
Revenues (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Revenues | An analysis of revenue is as follows: 2019 2018 2017 RMB million RMB million RMB million Revenue from contracts with customers 120,796 115,210 102,436 Revenue from other sources Rental income 190 68 39 120,986 115,278 102,475 Revenue from contracts with customers (i) Disaggregated revenue information For the year ended December 31, 2019 Airline transportation Other Segments operations operations Total RMB million RMB million RMB million Type of goods or services Traffic revenues - Passenger 110,416 — 110,416 - Cargo and mail 3,826 — 3,826 Tour operations income — 878 878 Ground service income 1,180 — 1,180 Commission income 2,485 — 2,485 Others 1,269 742 2,011 Total revenue from contracts with customers 119,176 1,620 120,796 Geographical markets Domestic (the PRC, excluding Hong Kong, Macau and Taiwan) 78,248 1,620 79,868 International 37,082 — 37,082 Regional (Hong Kong, Macau and Taiwan) 3,846 — 3,846 Total revenue from contracts with customers 119,176 1,620 120,796 For the year ended December 31, 2018 Airline transportation Other Segments operations operations Total RMB million RMB million RMB million Type of goods or services Traffic revenues - Passenger 104,309 — 104,309 - Cargo and mail 3,627 — 3,627 Tour operations income — 2,173 2,173 Ground service income 1,055 — 1,055 Commission income 2,199 — 2,199 Others 1,368 529 1,897 Total revenue from contracts with customers 112,508 2,702 115,210 Geographical markets Domestic (the PRC, excluding Hong Kong, Macau and Taiwan) 73,747 2,702 76,449 International 34,744 — 34,744 Regional (Hong Kong, Macau and Taiwan) 4,017 — 4,017 Total revenue from contracts with customers 112,508 2,702 115,210 Set out below is the reconciliation of the revenue from contracts with customers to the amounts disclosed in the segment information: For the year ended December 31, 2019 Segments Airline RMB million Other RMB million Total RMB million Revenue from contracts with customers External customers 119,176 1,620 120,796 Intersegment sales — 2,052 2,052 Intersegment adjustment and eliminations — (2,052 ) (2,052 ) Total revenue from contracts with customers 119,176 1,620 120,796 For the year ended December 31, 2018 Segments Airline RMB million Other RMB million Total RMB million Revenue from contracts with customers External customers 112,508 2,702 115,210 Intersegment sales — 1,425 1,425 Intersegment adjustment and eliminations — (1,425 ) (1,425 ) Total revenue from contracts with customers 112,508 2,702 115,210 |
Schedule of Revenue Recognized in Current Reporting Period that were Included in Contract Liabilities | The following table shows the amounts of revenue recognized in the current reporting period that were included in the contract liabilities at the beginning of the reporting period: 2019 RMB million 2018 RMB million Revenue recognized that was included in contract liabilities at the beginning of the year: Passenger transportation services 7,216 6,218 |
Summary of Contract Liabilities Activity | The table below presents the movements of the contract liabilities for frequent flyer program. 2019 RMB million 2018 RMB million At January 1 2,286 1,994 Deferred during the year 1,613 1,519 Recognized as revenue during the year (1,654 ) (1,227 ) At December 31 2,245 2,286 Less: the related pending output value added tax therein 188 240 2,057 2,046 |
Other Operating Income and Ga_2
Other Operating Income and Gains (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Other Operating Income and Gains | 2019 RMB million 2018 2017 Co-operation 5,436 4,536 3,884 Routes subsidy income (note (b)) 353 441 295 Other subsidy income (note (c)) 535 453 762 Gain on disposal of items of property, plant and equipment 40 290 69 Gain on disposal of prepayments for land use rights — 210 5 Gain on disposal of available-for-sale — — 4 Dividend income from available-for-sale — — 33 Gain on disposal of an associate — 5 12 Dividend income from a financial asset at fair value through profit or loss 3 6 — Dividend income from equity investments designated at fair value through other comprehensive income 19 23 — Compensation from ticket sales agents 331 348 271 Gain on disposal of a subsidiary (note (d)) 64 — 1,754 Others 421 280 392 7,202 6,592 7,481 Notes: (a) Co-operation (b) Routes subsidy income represents subsidies granted by various authorities to support certain international and domestic routes operated by the Group. (c) Other subsidy income represents subsidies granted by various local authorities based on certain amounts of tax paid and other government grants. (d) There are no unfulfilled conditions or other contingencies related to subsidies that were recognized for the years ended December 31, 2019, 2018 and 2017. |
Operating Profit (Tables)
Operating Profit (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Operating Profit | Operating profit is stated after charging the following items: 2019 RMB million 2018 2017 Amortization of intangible assets (Note 20) 143 160 142 Depreciation of property, plant and equipment (Note 17) – owned 9,078 7,926 7,065 – leased (finance leases) — 6,690 6,302 Depreciation of right-of-use assets (Note 19(b)) (2018 and 2017: amortization of prepayments for land use rights) 12,298 43 45 Depreciation of investment properties (Note 18) 25 26 12 Amortization of long-term deferred assets included in other non-current assets 536 468 402 Consumption of flight equipment spare parts 1,013 1,088 1,131 Auditors’ remuneration 18 17 19 Foreign exchange differences, net (Note 13 and 12) 990 2,040 (2,001 ) |
Wages, Salaries and Benefits (T
Wages, Salaries and Benefits (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Wages, Salaries and Benefits | 2019 RMB million 2018 2017 Wages, salaries, bonuses and allowances 19,385 17,865 16,474 Employee welfare and benefits 143 170 133 Pension (Note 40(a)) 2,571 2,306 1,987 Medical insurance (note (a)) 789 706 663 Staff housing fund (note (b)) 1,056 948 886 Staff housing allowances (note (c)) 186 109 150 Early retirement benefits (note (d)) 22 30 27 24,152 22,134 20,320 Notes: (a) Medical insurance Majority of the Group’s PRC employees participate in the medical insurance schemes organized by municipal governments. (b) Staff housing fund In accordance with the relevant PRC housing regulations, the Group is required to contribute to the state-sponsored housing fund for its employees. At the same time, the employees are required to contribute an amount equal to the Group’s contribution. The employees are entitled to claim the entire sum of the fund contributed under certain specified withdrawal circumstances. The Group has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits. (c) Staff housing allowances The Group also provides staff housing allowances in cash to eligible employees. The total entitlement of an eligible employee is principally provided over a period of 20 years. Upon an eligible employee’s resignation or retirement, his or her entitlement would cease and any unpaid entitlement related to past service up to the date of resignation or retirement would be paid. (d) Early retirement benefits The Group implements an early retirement scheme which allows eligible employees to early retire on a voluntary basis. The Group undertakes the obligations to pay the early retirement employees’ basic salaries and certain welfare in the future on a monthly basis according to the early retirement scheme, together with social insurance and housing fund pursuant to the regulation of the local government. The benefits of the early retirement scheme are calculated based on factors including the remaining number of years of service from the date of early retirement to the normal retirement date and the benefits the early retirement employees enjoyed. The present value of the future cash flows expected to be required to settle the obligations is recognized as a provision in “other long-term liabilities”. (e) Directors’ and executives’ remuneration 2019 Fees RMB’000 Salaries, RMB’000 Performance RMB’000 Pension RMB’000 Total RMB’000 Executive Directors Liu Shaoyong* — — — — — Ma Xulun*&**** — — — — — Wang Junjin** — — — — — Li Yangmin*&** — — — — — Tang Bing*&** — — — — — Yuan Jun* — — — — — Independent non-executive Directors Lin Wanli — — — — — Li Ruoshan*** 200 — — — 200 Ma Weihua*** 200 — — — 200 Shao Ruiqing 200 — — — 200 Cai Hongping 200 — — — 200 Dong Xuebo** 5 — — — 5 Supervisors Xi Sheng* — — — — — Gao Feng — 665 — 21 686 Li Jinde*&*** — — — — — Fang Zhaoya*&** — — — — — Total 805 665 — 21 1,491 2018 Fees RMB’000 Salaries, RMB’000 Performance RMB’000 Pension RMB’000 Total RMB’000 Executive Directors Liu Shaoyong* — — — — — Ma Xulun*&**** — — — — — Xu Zhao*&*** — — — — — Gu Jiadan*&*** — — — — — Li Yangmin*&*** — — — — — Tang Bing*&*** — — — — — Tian Liuwen*&*** — — — — — Yuan Jun** — 867 — 14 881 Independent non-executive Directors Lin Wanli** — — — — — Li Ruoshan 200 — — — 200 Ma Weihua 200 — — — 200 Shao Ruiqing 200 — — — 200 Cai Hongping 200 — — — 200 Supervisors Xi Sheng* — — — — — Gao Feng** — 251 — 19 270 Li Jinde*&** — — — — — Ba Shengji*&*** — — — — — Hu Jidong*&*** — — — — — Feng Jinxiong***** — 346 — 8 354 Jia Shaojun*&*** — — — — — Total 800 1,464 — 41 2,305 2017 Fees RMB’000 Salaries, RMB’000 Performance es RMB’000 Pension RMB’000 Total RMB’000 Executive Directors Liu Shaoyong* — — — — — Ma Xulun* — — — — — Xu Zhao* — — — — — Gu Jiadan* — — — — — Li Yangmin* — — — — — Tang Bing* — — — — — Tian Liuwen* — — — — — Independent non-executive Directors Li Ruoshan 200 — — — 200 Shao Ruiqing 200 — — — 200 Ma Weihua 200 — — — 200 Cai Hongping 200 — — — 200 Supervisors Xi Sheng* — — — — — Feng Jinxiong — 584 — 12 596 Ba Shengji* — — — — — Hu Jidong — 1,549 — 22 1,571 Jia Shaojun* — — — — — Total 800 2,133 — 34 2,967 * These directors and supervisors of the Company received emoluments from CEA Holding, the parent company, part of which were in respect of their services to the Company and its subsidiaries. No apportionment has been made as it is impracticable to apportion this amount between their services to the Group and their services to CEA Holding. ** These directors and supervisors of the Company were newly appointed or elected during the years ended December 31, 2019 and 2018, respectively. *** These directors and supervisors of the Company resigned during the years ended December 31, 2019 and 2018, respectively. **** Mr. Ma Xulun resigned on February 1, 2019. ***** Mr. Feng Jinxiong passed away due to illness during the year ended December 31, 2018. |
Summary of information about benefits of directors | Directors’ and chief executive’s remuneration for the year, disclosed pursuant to the Listing Rules, section 383(1)(a), (b), (c) and (f) of the Hong Kong Companies Ordinance and Part 2 of the Companies (Disclosure of Information about Benefits of Directors) Regulation, is as follows: 2019 2018 2017 Fees 805 800 800 Other emoluments: Salaries, allowances and benefits in kind 665 1,464 2,133 Performance related bonuses* — — — Pension scheme contributions 21 41 34 1,491 2,305 2,967 * No executive directors of the Company are entitled to bonus payments which are determined as a percentage of the profit after tax of the Group. |
Summary of Five Highest Paid Individuals | The emoluments payable to the five highest paid individuals were as follows: 2019 RMB ’000 2018 RMB ’000 Wages, salaries and allowances 11,413 8,938 Pension scheme contributions 185 172 11,598 9,110 The number of five highest paid individuals whose emoluments fell within the following band s Number of individuals 2019 2018 HK$2,000,001 to HK$2,500,000 2 5 HK$2,500,001 to HK$3,000,000 2 — HK$3,000,001 to HK$3,500,000 1 — |
Impairment Charges (Tables)
Impairment Charges (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Impairment Charges | 2019 RMB million 2018 RMB million 2017 RMB million Impairment charge on property, plant and equipment (Note 17) 4 15 379 Write-down of flight equipment spare parts to net realizable value (Note 27) — 301 112 Impairment charge on assets classified as held for sale — 2 3 4 318 494 |
Impairment Losses on Financia_2
Impairment Losses on Financial Assets, Net (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Impairment Losses on Financial Assets, Net | 2019 RMB million 2018 RMB million 2017 RMB million Reversal of impairment losses on trade receivables (Note 28) (6 ) (21 ) (3 ) Impairment losses on other receivables (Note 30) 22 48 — 16 27 (3 ) |
Fair Value Changes of Derivat_2
Fair Value Changes of Derivative Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Gain/(Loss) on Fair Value Changes of Derivative Financial Instruments | 2019 RMB million 2018 RMB million 2017 RMB million Forward foreign exchange contracts — 311 (311 ) |
Finance Income (Tables)
Finance Income (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Finance Income | 2019 RMB million 2018 RMB million 2017 RMB million Interest income 96 110 111 Foreign exchange gains, net (Note 13(b)) — — 2,001 96 110 2,112 |
Finance Costs (Tables)
Finance Costs (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Finance Costs | 2019 RMB million 2018 RMB million 2017 RMB million Interest on bank borrowings 1,149 1,569 1,590 Interest relating to lease liabilities (Note 19(c)) 3,894 — — Interest relating to obligations under finance leases — 2,440 1,845 Interest relating to post-retirement benefit obligations 92 106 98 Interest relating to provision for lease return costs for aircraft and engines 270 — — Interest on bonds and debentures 520 468 381 Interest relating to interest rate swap contracts (68 ) (6 ) 63 Less: amount capitalized into advanced payments on acquisition of aircraft ( n (687 ) (850 ) (793 ) 5,170 3,727 3,184 Foreign exchange losses, net (note (b)) 990 2,040 — 6,160 5,767 3,184 Notes: (a) The weighted average interest rate used for interest capitalization was 3.51% per annum for the year ended December 31, 2019 (2018: 3.54% and 2017: 3.40%). (b) The exchange gains and losses primarily related to the translation of the Group’s foreign currency denominated borrowings and lease liabilities (2018 and 2017: obligations under finance leases). |
Income Tax Expense (Tables)
Income Tax Expense (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Income Tax Charged to Profit or Loss | Income tax charged to profit or loss was as follows: 2019 RMB million 2018 2017 Income tax 942 1,220 1,962 Deferred taxation (Note 2 6 (123 ) (294 ) (162 ) 819 926 1,800 |
Summary of the Reconciliation of Statutory Tax Rates to Effective Tax Rate | A reconciliation of the tax expense applicable to profit before tax at the statutory rates for the countries in which the Company and the majority of its subsidiaries are domiciled to the tax expense at the effective tax rates, is as follows: 2019 2018 2017 RMB million RMB million RMB million Profit before income tax 4,299 3,856 8,610 Tax calculated at the tax rate of 25% (2018: 25%, 2017:25%) 1,075 964 2,152 Lower tax rates enacted by local authority (139 ) (93 ) (87 ) Share of results of associates and joint ventures (71 ) (51 ) (63 ) Income not subject to tax (36 ) (9 ) (13 ) Expenses not deductible for tax 128 88 38 Utilization of previously unrecognized tax losses (11 ) (60 ) (253 ) Unrecognized tax losses for the year 17 28 48 Utilization of previously unrecognized deductible temporary differences (8 ) (1 ) (5 ) Unrecognized deductible temporary differences 3 23 2 Adjustments in respect of current tax of previous periods (34 ) 61 (8 ) Super deduction of research and development costs (27 ) (24 ) (11 ) Income tax deduction of purchase of special equipment for production safety (78 ) — — Tax charge 819 926 1,800 Effective tax rate 19.05 % 24.01 % 20.91 % |
Dividends (Tables)
Dividends (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Dividends | 2019 2018 2017 RMB million RMB million RMB million Proposed final – RMB0.050 per ordinary share 819 — 740 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Statement [Line Items] | |
Summary of Property Plant and Equipment | Aircraft, engines and flight equipment Other property, plant and equipment Owned Held under Buildings Construction Total RMB million RMB million RMB million RMB million RMB million RMB million December 31, 2019 At December 31, 2018, net of accumulated depreciation and impairment 68,565 94,416 8,530 4,174 4,419 180,104 Effect of adoption of IFRS 16 — (94,416 ) — — — (94,416 ) At January 1, 2019 (restated) 68,565 — 8,530 4,174 4,419 85,688 Additions 4,137 — (41 ) 716 3,242 8,054 Disposals (10 ) — (40 ) (41 ) — (91 ) Transfer from construction in progress — — 3,523 214 (3,737 ) — Transfer from advanced payments on acquisition of aircraft 335 — — — — 335 Transfer from investment properties (Note 18) — — 76 — — 76 Transfer from right-of-use assets (Note 19(b)) 14,264 — — — — 14,264 Transfer to investment properties (Note 18) — — (23 ) — — (23 ) Transfer from/(to) other non-current assets — — — 309 (67 ) 242 Disposal of a subsidiary (Note 45) — — (8 ) (18 ) — (26 ) Depreciation provided during the year (7,812 ) — (363 ) (903 ) — (9,078 ) Impairment — — — (4 ) — (4 ) At December 31, 2019, net of accumulated depreciation and impairment 79,479 — 11,654 4,447 3,857 99,437 At December 31, 2019: Cost 133,845 — 14,153 10,217 3,857 162,072 Accumulated depreciation and impairment (54,366 ) — (2,499 ) (5,770 ) — (62,635 ) Net carrying amount 79,479 — 11,654 4,447 3,857 99,437 Aircraft, engines and flight equipment Other property, plant and equipment Owned Held under Buildings Construction Total RMB million RMB million RMB million RMB million RMB million RMB million December 31, 2018 At December 31, 2017 and at January 1, 2018: Cost 111,297 105,801 8,809 7,934 3,705 237,546 Accumulated depreciation and impairment (42,303 ) (21,041 ) (2,331 ) (5,015 ) — (70,690 ) Net carrying amount 68,994 84,760 6,478 2,919 3,705 166,856 At January 1, 2018, net of accumulated depreciation and impairment 68,994 84,760 6,478 2,919 3,705 166,856 Additions 6,057 9,821 32 1,192 4,181 21,283 Disposals (3,304 ) (1,332 ) (202 ) (54 ) — (4,892 ) Transfer from construction in progress — — 2,909 548 (3,457 ) — Transfer from advanced payments on acquisition of aircraft 824 10,696 — — — 11,520 Transfer from investment properties (Note 18) — — 18 — — 18 Transfer to investment properties (Note 18) — — (386 ) — — (386 ) Assets included in assets classified as held for sale (13 ) — — — — (13 ) Transfer from/(to) other non-current — — — 359 (10 ) 349 Depreciation provided during the year (6,798 ) (6,709 ) (318 ) (791 ) — (14,616 ) Impairment (15 ) — — — — (15 ) Transfers 2,820 (2,820 ) (1 ) 1 — — At December 31, 2018, net of accumulated depreciation and impairment 68,565 94,416 8,530 4,174 4,419 180,104 At December 31, 2018: Cost 111,968 117,824 10,689 9,462 4,419 254,362 Accumulated depreciation and impairment (43,403 ) (23,408 ) (2,159 ) (5,288 ) — (74,258 ) Net carrying amount 68,565 94,416 8,530 4,174 4,419 180,104 |
Aircraft [member] | |
Statement [Line Items] | |
Summary of Property Plant and Equipment | The following table indicates the cost and net carrying amount of the Group’s aircraft pledged as collateral under certain borrowing arrangements (Note 38): 2019 2018 Cost Net carrying amount Cost Net carrying amount RMB million RMB million RMB million RMB million Aircraft - pledged as collateral 10,819 7,243 11,752 8,391 |
Investment Properties (Tables)
Investment Properties (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Investment Properties | 2019 2018 RMB million RMB million Cost At January 1 940 392 Transfer from property, plant and equipment (Note 17) 35 474 Transfer from right-of-use assets (Note 19(b)) 13 — Transfer from intangible asset — 98 Transfer to property, plant and equipment (Note 17) (101 ) (24 ) Transfer to right-of-use assets (Note 19(b)) (4 ) — At December 31 883 940 Accumulated depreciation At January 1 216 90 Transfer from property, plant and equipment (Note 17) 12 88 Transfer from right-of-use assets (Note 19(b)) 3 — Transfer from intangible assets — 18 Transfer to property, plant and equipment (Note 17) (25 ) (6 ) Transfer to right-of-use assets (Note 19(b)) (1 ) — Charge for the year (Note 7) 25 26 At December 31 230 216 Net book amount At December 31 653 724 |
Summary of Fair Value Measurement Hierarchy of Investment Properties | The following table illustrates the fair value measurement hierarchy of the Group’s investment properties: Buildings Fair value measurement using Quoted prices (Level 1) Significant (Level 2) Significant (Level 3) Total RMB million RMB million RMB million RMB million Not measured at fair value but fair value is disclosed: As at December 31, 2019 — 144 981 1,125 As at December 31, 2018 — 243 884 1,127 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Presentation of leases for lessee [abstract] | |
Disclosure Of Prepayments For Land Use Rights | (a) Prepayments for land use rights (before January 1, 2019) RMB million Carrying amount at January 1, 2018 1,717 Recognized in profit or loss during the year (330 ) Carrying amount at December 31, 2018 1,387 |
Disclosure Of Right Of Use Assets And The Movements | (b) Right-of-use The carrying amounts of the Group’s right-of-use Aircraft, engines and flight equipment RMB million Prepayments RMB million Buildings RMB million Others RMB million Total RMB million Cost at January 1, 2019, net of accumulated depreciation 126,417 1,387 496 12 128,312 Additions 26,315 1 622 73 27,011 Transfer from investment properties (Note 18) — 3 — — 3 Transfer to property, plant and equipment (Note 17) (14,264 ) — — — (14,264 ) Transfer to investment properties (Note 18) — (10 ) — — (10 ) Disposal of a subsidiary (Note 45) — — (10 ) — (10 ) Disposals (40 ) — — — (40 ) Depreciation provided during the year (11,964 ) (38 ) (284 ) (12 ) (12,298 ) At December 31, 2019 126,464 1,343 824 73 128,704 At December 31, 2019: Cost 172,690 1,662 1,108 85 175,545 Accumulated depreciation (46,226 ) (319 ) (284 ) (12 ) (46,841 ) Net carrying amount 126,464 1,343 824 73 128,704 |
Disclosure Of Lease Liabilities | (c) Lease liabilities The carrying amount of lease liabilities and the movements during the year are as follows: 2019 RMB million 2018 RMB million Carrying amount at January 1 77,427 66,868 Effect of adoption IFRS16 31,879 — Carrying amount at January 1 (restated) 109,306 66,868 New leases 24,023 18,769 Effect of foreign exchange 851 1,419 Disposal of a subsidiary (Note 45) (10 ) — Accretion of interest recognized during the year 3,894 2,440 Payments (27,789 ) (12,069 ) Carrying amount at December 31 110,275 77,427 Analyzed into: Current portion 15,590 9,364 Non-current 94,685 68,063 |
Schedule of undiscounted lease payments receivables | (d) The amounts recognized in profit or loss in relation to leases are as follows: 2019 RMB million Interest on lease liabilities 3,894 Depreciation charge of right-of-use 12,298 Low value and short-term lease rental 631 Total amount recognized in profit or loss 16,823 |
Disclosure of lease expenses | At December 31, 2019, the undiscounted lease payments receivable by the Group in future periods under non-cancellable 2019 RMB million Within one year 165 After one year but within two years 149 After two years but within three years 144 After three years but within four years 139 After four years but within five years 138 After five years 221 956 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Intangible Assets | Goodwill Computer Others Total RMB million RMB million RMB million RMB million December 31, 2019 Cost at January 1, 2019, net of accumulated amortization 11,270 339 — 11,609 Additions — 199 — 199 Transfer from construction in process — 36 — 36 Disposals — (3 ) — (3 ) Amortization provided during the year — (143 ) — (143 ) At December 31, 2019 11,270 428 — 11,698 At December 31, 2019: Cost 11,270 1,301 98 12,669 Accumulated amortization (873 ) (98 ) (971 ) Net carrying amount 11,270 428 — 11,698 Goodwill Computer Others (note (b)) Total RMB million RMB million RMB million RMB million December 31, 2018 Cost at January 1, 2018, net of accumulated amortization 11,270 293 33 11,596 Additions — 166 — 166 Transfer from construction in process — 7 — 7 Amortization provided during the year — (127 ) (33 ) (160 ) At December 31, 2018 11,270 339 — 11,609 At December 31, 2018: Cost 11,270 1,077 98 12,445 Accumulated amortization — (738 ) (98 ) (836 ) Net carrying amount 11,270 339 — 11,609 Notes: (a) The balance represents goodwill arising from the acquisition of Shanghai Airlines. The value of the goodwill is attributable to strengthening the competitiveness of the Group’s airline transportation operations, attaining synergy through integration of the resources and accelerating the development of international air transportation in Shanghai. For the purpose of impairment assessment, goodwill was allocated to the cash-generating unit (“CGU”) that the Group operates and benefits from the acquisition. The recoverable amount of the CGU has been determined based on a value-in-use post-tax value-in-use (b) The balance represents the costs incurred to acquire the use right of certain flight schedules (i.e. timeslots for flights’ taking off/landing). |
Investments in Associates (Tabl
Investments in Associates (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Investments accounted for using equity method [abstract] | |
Summary of Investments in Associates | 2019 2018 RMB million RMB million Share of net assets 1,977 1,696 The movements in investments in associates were as follows: 2019 2018 RMB million RMB million At January 1 1,696 1,654 Additions 95 — Share of results of associates 265 170 Share of revaluation on equity investments designated at fair value through other comprehensive income held by an associate 7 (24 ) Share of other equity changes of an associate 8 — Dividend received during the year (85 ) (104 ) Disposal of a subsidiary (Note 45) (9 ) — At December 31 1,977 1,696 |
Summary of Principal Associates | Particulars of the principal associates, which are limited liability companies, are as follows: Company name Place of Registered capital Attributable Principal activities 2019 2018 2019 2018 Million Million Eastern Air Group Finance Co., Ltd. (“Eastern Air Finance Company”) PRC/Mainland China December 6, 1995 RMB2,000 RMB2,000 25% 25% Provision of financia l services to group China Eastern Air Catering Investment Co., Ltd. PRC/Mainland China November 17, RMB350 RMB350 45% 45% Provision of air catering services Shanghai Pratt & Whitney Aircraft Engine Maintenance Co., Ltd. (“Shanghai P&W”) (note) PRC/Mainland China March 28, 2008 USD40 USD40 51% 51% Provision of aircraft, New Shanghai International Tower Co., Ltd. PRC/Mainland China November 17, RMB167 RMB167 20% 20% Property Eastern Aviation Import & Export Co., Ltd. (“Eastern Import & Export”) PRC/Mainland China June 9, 1993 RMB80 RMB80 45% 45% Provision of aviation Eastern Aviation Advertising Service Co., Ltd. (“Eastern Advertising”) PRC/Mainland China March 4, 1986 RMB200 RMB200 45% 45% Provision of aviation Shanghai Collins Aviation Maintenance Service Co., Ltd. (“Collins Aviation”) PRC/Mainland China September 27, USD7 USD7 35% 35% Provision of airline Shanghai Airlines Tours International (Group) Co., Ltd. (“Shanghai Airlines Tours”) PRC/Mainland China August 29, 1992 RMB143 RMB50 35% 100% Tour operations, Note: |
Summary of Aggregate Financial Information of Associates | The following table illustrates the aggregate financial information of the Group’s associates that were not individually material: 2019 2018 RMB million RMB million Share of the associates’ profit for the year 265 170 Share of the associates’ other comprehensive income 7 (24 ) Share of the associates’ total comprehensive income 272 146 Aggregate carrying amount of the Group’s interests in the associates 1,977 1,696 |
Investments in Joint Ventures (
Investments in Joint Ventures (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Investments accounted for using equity method [abstract] | |
Summary of Investments in Joint Ventures | 2019 2018 RMB million RMB million Share of net assets 627 577 The movements in investments in joint ventures were as follows: 2019 2018 RMB million RMB million At January 1 577 557 Additions 102 16 Share of results 17 34 Dividend received during the year (69 ) (30 ) At December 31 627 577 |
Summary of Principal Joint Ventures | Particulars of the principal joint ventures, which are limited liability companies, are as follows: Company name Place of establishment Paid-up Attributable Principal activities 2019 2018 2019 2018 Million Million Shanghai Technologies Aerospace Co., Ltd. (“Technologies Aerospace”) (note) PRC/Mainland China September 28, 2004 USD73 USD73 51% 51% Provision of repair and Shanghai Eastern Union Aviation Wheels & Brakes Maintenance Services Overhaul Engineering Co., Ltd. (“Wheels & Brakes”) PRC/Mainland China December 28, 1995 USD2 USD2 40% 40% Provision of spare Eastern China Kaiya System Integration Co., Ltd. (“China Kaiya”) PRC/Mainland China May 21, 1999 RMB10 RMB10 41% 41% Provision of computer CAE Melbourne Flight Training Pty Ltd. (“CAE Melbourne”) Australia March 9, 2007 AUD11 AUD11 50% 50% Provision of flight Shanghai Hute Aviation Technology Co., Ltd. (“Shanghai Hute”) PRC/Mainland China April 9, 2003 RMB30 RMB30 50% 50% Provision of Xi’an CEA SAFRAN Landing Systems Services Co., Ltd. (“XIESA”) PRC/Mainland China July 12, 2017 USD40 USD40 50% 50% Provision of aircraft, Note: |
Summary of Aggregate Financial Information of Joint Ventures | The following table illustrates the aggregate financial information of the Group’s joint ventures that were not individually material: 2019 2018 RMB million RMB million Share of the joint ventures’ profit for the year 17 34 Share of the joint ventures’ total comprehensive income 17 34 Aggregate carrying amount of the Group’s interests in the joint ventures 627 577 |
Equity Investments Designated_2
Equity Investments Designated at Fair Value Through Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Equity Investments Designated at Fair Value Through Other Comprehensive Income | 2019 2018 RMB million RMB million Listed equity investments, at fair value TravelSky Technology Limited 496 510 496 510 Unlisted equity investments, at fair value Sichuan Airlines Corporation Limited 336 438 Aviation Data Communication Corporation Limited 244 161 Others 198 138 778 737 1,274 1,247 |
Derivative Financial Instrume_2
Derivative Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Derivative Financial Instruments | Assets Liabilities 2019 2018 2019 2018 RMB million RMB million RMB million RMB million At December 31 Forward currency contracts 43 — 13 29 Interest rate swaps 27 223 10 — Total 70 223 23 29 Less: current portion – Forward currency contracts 43 — 13 29 – Interest rate swaps — 1 — — Non-current 27 222 10 — |
Summary of Changes to Forecasted Amounts of Cash Flows of Hedged Items and Hedging Instruments | The Group holds the following forward currency contracts and interest rate swap contracts: Maturity Less than 3 to 6 6 to 9 9 to 12 Over 1 Total As at December 31, 2019 Forward currency contracts (Capital expenditures) Notional amount (in RMB million) — 628 1,047 1,046 — 2,721 Average forward rate (RMB/USD) — 7.0151 6.9325 6.9988 — 6.9771 Forward currency contracts (Highly probable forecasted purchases) Notional amount (in RMB million) — — 1,835 858 — 2,693 Average forward rate (RMB/USD) — — 6.9629 6.8810 — 6.9368 Interest rate swaps (Payment on lease liabilities) Notional amount (in RMB million) 31 30 — — 6,133 6,194 Hedged rate (%) 2.0450 1.8800 — — 1.6803 1.6831 |
Summary of Impacts of Hedging Instruments on Statement of Financial Position | The impacts of the hedging instruments on the statement of financial position are as follows: Notional Carrying Line item in the statement Change in RMB million RMB million RMB million As at December 31, 2019 Forward currency contracts (Capital expenditures) 2,721 8 Derivative financial instruments 141 Forward currency contracts (Highly probable forecasted purchases) 2,693 22 Derivative financial instruments 22 Forward currency contracts (Payment on bonds) — — Derivative financial instruments 14 Interest rate swaps (Payment on lease liabilities) 6,194 17 Derivative financial instruments (137 ) |
Summary of impacts of Hedged Items on Statement of Financial Position | The impacts of the hedged items on the statement of financial position are as follows: Change in fair value used for measuring Cash flow hedge reserve RMB million RMB million As at December 31, 2019 Capital expenditures 141 8 Highly probable forecasted purchases 22 22 Payment on bonds 14 — Payment on lease liabilities (163 ) 17 14 47 |
Summary of Effects of Cash Flow Hedge on Statement of Profit or Loss and Statement of Comprehensive Income | The effects of the cash flow hedge on the statement of profit or loss and the statement of comprehensive income are as follows: Total hedging gain/(loss) Hedge recognized in Line item in the statement Amount reclassified from other Line item the statement of Gross Tax Total Gross Tax Total RMB million RMB million RMB million RMB million RMB million RMB million RMB million Year ended December 31, 2019 Capital expenditures 141 (35 ) 106 — N/A (82 ) 20 (62 ) Finance Costs Highly probable forecasted purchases 22 (6 ) 16 — N/A (22 ) 6 (16 ) Finance Costs Payment on bonds 14 (4 ) 10 — N/A (14 ) 4 (10 ) Finance Costs Payment on lease liabilities (137 ) 34 (103 ) — N/A (68 ) 17 (51 ) Finance Costs |
Other Non-current Assets (Table
Other Non-current Assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Other Non-current Assets | 2019 2018 RMB million RMB million Deposits relating to aircraft held under leases 156 177 Deferred pilot recruitment costs 1,873 1,536 Rebate receivables on aircraft acquisitions 42 55 Prepayment for acquisition of property, plant and equipment 1,095 854 Others 804 748 3,970 3,370 |
Deferred Taxation (Tables)
Deferred Taxation (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Net Deferred Tax Assets/(Liabilities) | The following amounts, determined after appropriate offsetting, are shown in the consolidated statement of financial position: 2019 2018 RMB million RMB million Deferred tax assets 853 207 Deferred tax liabilities (22 ) (84 ) Net deferred tax assets 831 123 |
Summary of Movements in Net Deferred Tax Assets/(Liabilities) | Movements in the net deferred tax assets/(liabilities) were as follows: 2019 RMB million At December 31, 2018 123 Effect of adoption of IFRS 16 554 At January 1, 2019 (restated) 677 Credited to profit or loss (Note 14) 123 Charged to other comprehensive income 31 At December 31, 2019 831 2018 RMB million At January 1, 2018 (240 ) Credited to profit or loss (Note 14) 294 Charged to other comprehensive income 69 At December 31, 2018 123 |
Summary of Deferred Tax Assets and Liabilities Prior to Offsetting of Balances within Same Tax Jurisdiction | The deferred tax assets and liabilities (prior to the offsetting of balances within the same tax jurisdiction) were made up of the taxation effects of the following: 2019 2018 RMB million RMB million Deferred tax assets: Provision for lease return costs for aircraft and engines 1,075 — Impairment provision for flight equipment spare parts 53 126 Impairment provision for receivables 76 75 Impairment provision for property, plant and equipment 101 103 Derivative financial instruments 6 7 Financial asset at fair value through profit or loss — 6 Other payables and accruals 71 89 Government grants related to assets 35 42 Deferred gains in sale and leaseback transactions — 6 Loss available for offsetting against future taxable profits 66 — Aged payables 1 2 1,484 456 Deferred tax liabilities: Lease liabilities/Right-of-use (352 ) — Equity investments designated at fair value through other comprehensive income (283 ) (278 ) Derivative financial instruments (18 ) (55 ) (653 ) (333 ) 831 123 |
Summary of Movements in Net Deferred Tax (Liabilities)/Assets of the Group | Movements in the net deferred tax assets/(liabilities) of the Group for the year were as follows: At Effect of At January 1 (Charged)/ (Charged)/ At For the year ended December 31, 2019 Provision for lease return costs for aircraft and engines — 882 882 193 — 1,075 Impairment provision for flight equipment spare parts 126 — 126 (73 ) — 53 Impairment provision for receivables 75 — 75 1 — 76 Impairment provision for property, plant and equipment 103 — 103 (2 ) — 101 Derivative financial instruments 7 — 7 — (1 ) 6 Financial asset at fair value through profit or loss 6 — 6 (6 ) — — Other payables and accruals 89 — 89 (18 ) — 71 Government grants related to assets 42 — 42 (7 ) — 35 Deferred gains in sale and leaseback transactions 6 — 6 (6 ) — — Loss available for offsetting against future taxable profits — — — 66 — 66 Aged payables 2 — 2 (1 ) — 1 456 882 1,338 147 (1 ) 1,484 Lease liabilities/Right-of-use assets — (328 ) (328 ) (24 ) — (352 ) Equity investments designated at fair value through other comprehensive income (278 ) — (278 ) — (5 ) (283 ) Derivative financial instruments (55 ) — (55 ) — 37 (18 ) (333 ) (328 ) (661 ) (24 ) 32 (653 ) Net deferred tax assets/(liabilities) 123 554 677 123 31 831 At January 1 RMB million (Charged)/ (Charged)/ credited to other At 8 For the year ended December 31, 2018 Impairment provision for flight equipment spare parts 51 75 — 126 Impairment provision for receivables 72 3 — 75 Impairment provision for property, plant and equipment 104 (1 ) — 103 Derivative financial instruments 82 (78 ) 3 7 Financial asset at fair value through profit or loss — 6 — 6 Other payables and accruals 29 60 — 89 Government grants related to assets — 42 — 42 Deferred gains in sale and leaseback transactions — 6 — 6 Aged payables 5 (3 ) — 2 343 110 3 456 Depreciation and amortization (56 ) 56 — — Equity investments designated at fair value through other comprehensive income (361 ) — 83 (278 ) Derivative financial instruments (38 ) — (17 ) (55 ) Passenger ticket breakage (128 ) 128 — — (583 ) 184 66 (333 ) Net deferred tax assets/(liabilities) (240 ) 294 69 123 |
Summary of Balances for Which Deferred Tax Assets Have Not Been Recognised | As at the reporting date, the Group had the following balances in respect of which deferred tax assets have not been recognized: 2019 2018 Deferred RMB million Temporary RMB million Deferred RMB million Temporary RMB million Tax losses carried forward 54 217 67 267 Other deductible temporary differences 7 30 27 126 Total unrecognized deferred tax assets 61 247 94 393 |
Flight Equipment Spare Parts (T
Flight Equipment Spare Parts (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Text block [abstract] | ||
Summary of Flight Equipment Spare Parts | 2019 2018 RMB million RMB million Flight equipment spare parts 2,732 2,778 Less: provision for spare parts (325) (828 ) 2,407 1,950 | |
Summary of Movements in Provision for Impairment of Flight Equipment Spare Parts | Movements in the Group’s provision for impairment of flight equipment spare parts were as follows: 2019 2018 RMB million RMB million At January 1 828 531 Accrual (Note 9) — 301 Amount written off in relation to disposal of spare parts (503) (4 ) At December 31 325 828 |
Trade and Notes Receivables (Ta
Trade and Notes Receivables (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Statement [Line Items] | |
Summary of Trade and Notes Receivables | The credit terms given to trade customers are determined on an individual basis. 2019 2018 RMB million RMB million Trade receivables 1,793 1,525 Notes receivable — 4 1,793 1,529 Impairment (76 ) (93 ) 1,717 1,436 |
Summary of Ageing Analysis of Trade Receivables and Net of Loss Allowance | An aging analysis of the trade receivables as at the end of the reporting period, based on the invoice/billing date and net of loss allowance, is as follows: 2019 RMB million 2018 RMB million Within 90 days 1,615 1,354 91 to 180 days 33 52 181 to 365 days 39 11 Over 365 days 30 15 1,717 1,432 |
Schedule of Credit Risk Exposure on Group's Trade Receivables | Set out below is the information about the credit risk exposure on the Group’s trade receivables using a provision matrix: As at December 31, 2019 Past due Current Less than 90 to 365 Over Total Expected credit loss rate (%) 0.12 2.94 2.50 70.59 4.24 Gross carrying amount (RMB million) 1,617 34 40 102 1,793 Expected credit losses (RMB million) 2 1 1 72 76 As at December 31, 2018 Past due Current Less than 90 to 365 Over Total Expected credit loss rate (%) 0.57 0.78 1.59 83.17 6.10 Gross carrying amount (RMB million) 1,232 129 63 101 1,525 Expected credit losses (RMB million) 7 1 1 84 93 |
Trade and notes receivables [member] | |
Statement [Line Items] | |
Summary of Provision for Impairment of Trade Receivables | The movements in the loss allowance for impairment of trade receivables are as follows: 2019 RMB million 2018 RMB million At beginning of year 93 119 Impairment losses, net (Note 10) (6 ) (21 ) Amount written off as uncollectible (4 ) (5 ) Disposal of a subsidiary (7 ) — At end of year 76 93 |
Financial Asset at Fair Value_2
Financial Asset at Fair Value Through Profit or Loss (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Financial Assets at Fair Value Through Profit or Loss | 2019 RMB million 2018 RMB million Listed equity investment, at fair value Shanghai Pudong Development Bank Co., Ltd. 121 96 |
Prepayments and Other Receiva_2
Prepayments and Other Receivables (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Prepayments and Other Receivables | 2019 RMB million 2018 RMB million Value added tax recoverable 6,991 5,484 Value added tax refundable 800 979 Subsidy receivable 2,072 2,092 Prepaid corporate income tax 608 306 Advance to suppliers 129 222 Prepaid aircraft operating lease rentals — 478 Refundable advanced payment on acquisition of aircraft 538 — Rebate receivables on aircraft acquisitions 1,582 1,399 Amounts due from related parties (Note 48(c)(i)) 776 278 Deposits relating to aircraft held under leases 29 13 Other deposits 168 194 Others 663 577 14,356 12,022 Provision for impairment of other receivables (263 ) (246 ) 14,093 11,776 |
Schedule of Movements of Loss Allowances Measured at 12-month and Lifetime Expected Credit Losses Included in Other Receivables and Gross Carrying Amounts of Fnancial Assets | Set out below are the movements of loss allowances measured at 12-month 12-month ECLs Lifetime ECLs Stage 1 Stage 2 Stage 2 Stage 3 Total As at January 1, 2019 16 — 108 122 246 Transferred - to stage 2 (1 ) — 1 — — Accrual 18 — 4 — 22 Disposal of a subsidiary — — (5 ) — (5 ) As at December 31, 2019 33 — 108 122 263 12-month ECLs Lifetime ECLs Stage 1 Stage 2 Stage 2 Stage 3 Total As at January 1, 2018 4 — 72 122 198 Transferred - to stage 2 (1 ) — 1 — — Accrual 13 — 36 — 49 Reversal — — (1 ) — (1 ) As at December 31, 2018 16 — 108 122 246 The gross carrying amounts of the financial assets affecting the loss allowances above are as follows. 12-month ECLs Lifetime ECLs Stage 1 Stage 2 Stage 2 Stage 3 Total As at January 1, 2019 2,298 298 259 122 2,977 Transferred - to stage 2 (160 ) 160 — — — Accrual 1,066 — (265 ) — 801 Reversal (26 ) — (17 ) — (43 ) As at December 31, 2019 3,178 458 (23 ) 122 3,735 12-month ECLs Lifetime ECLs Stage 1 Stage 2 Stage 2 Stage 3 Total As at January 1, 2018 2,394 — 25 122 2,541 Transferred - to stage 2 (399 ) 298 101 — — Accrual 303 — 138 — 441 Reversal — — (5 ) — (5 ) As at December 31, 2018 2,298 298 259 122 2,977 |
Restricted Bank Deposits and _2
Restricted Bank Deposits and Short-term Bank Deposits (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Restricted Bank Deposits and Short-term Bank Deposits | 2019 RMB million 2018 RMB million Restricted bank deposits 6 16 |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Cash and Cash Equivalents | 2019 RMB million 2018 RMB million Cash 1 1 Bank balances 1,349 645 1,350 646 |
Trade and Bills Payables (Table
Trade and Bills Payables (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Analysis of Trade and Bills Payables | An aging analysis of the trade and bills payables as at the end of the reporting period, was as follows: 2019 RMB million 2018 RMB million Within 90 days 3,622 3,594 91 to 180 days 52 49 181 to 365 days 94 157 1 to 2 years 40 100 Over 2 years 69 140 3,877 4,040 |
Contract Liabilities (Tables)
Contract Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary Of Contract liabilities | 2019 RMB million 2018 RMB million Sales in advance of carriage 8,754 7,638 Frequent flyer program (Note 5) 2,057 2,046 Advances from customers 866 712 11,677 10,396 Current portion 10,178 8,811 Non-current 1,499 1,585 |
Other Payables and Accruals (Ta
Other Payables and Accruals (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Other Payables and Accruals | 2019 RMB million 2018 RMB million Salaries, wages and benefits 2,794 2,854 Take-off 3,052 2,828 Fuel cost 1,109 1,225 Expenses related to aircraft overhaul conducted 1,810 1,324 Deposits from customers 18 6 Duties and levies payable 1,983 1,792 Food and beverages 253 349 Payments on system services 879 650 Lease rentals of property, plant and equipment 515 411 Other accrued operating expenses 991 701 Payable for purchase of property, plant and equipment 3,454 2,783 Interest payable 1,249 1,189 Pending output value added tax 412 378 Deposits received from ticket sales agents 507 502 Other deposits 570 576 Current portion of other long-term liabilities (Note 41) 294 234 Staff housing allowance 224 265 Amounts due to related parties (Note 48(c)(ii)) 383 1,093 Current portion of post-retirement benefit obligations (Note 40(b)) 165 168 Others 1,940 1,815 22,602 21,143 |
Obligations Under Finance Lea_2
Obligations Under Finance Leases (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Future Minimum Lease Payments (Including Interest), and Present Value of Minimum Lease Payments Under Finance Leases | At December 31, 2018, the future minimum lease payments under finance leases and their present values were as follows: 2018 RMB million Within one year 11,974 In the second year 12,014 In the third to fifth years, inclusive 30,018 After the fifth year 36,974 Total of minimum lease payments 90,980 Present values of minimum lease payments 79,006 Less: amounts repayable within one year (9,364 ) Non-current portion 68,063 |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Statement [Line Items] | |
Summary of Borrowings | 2019 RMB million 2018 RMB million Non-current Long-term bank borrowings – secured (note (a)) 2,995 3,934 – unsecured 828 4,556 Guaranteed bonds (note (b)) 12,784 13,377 Unsecured bonds (note (b)) 9,997 4,000 26,604 25,867 Current Current portion of long-term bank borrowings – secured (note (a)) 939 997 – unsecured 1,009 76 Current portion of guaranteed bonds (note (b)) 2,585 732 Current portion of unsecured bonds (note (b)) — 4,834 Short-term bank borrowings – unsecured 2,200 8,120 Short-term debentures (note (c)) 18,500 14,500 25,233 29,259 51,837 55,126 The borrowings are repayable as follows: 2019 2018 RMB million RMB million Within one year 25,233 29,259 In the second year 8,104 7,469 In the third to fifth years, inclusive 14,821 14,258 After the fifth year 3,679 4,140 Total borrowings 51,837 55,126 Notes: (a) As at December 31, 2019, the secured bank borrowings of the Group were secured by the related aircraft and buildings with a net carrying amount of RMB7,243 million (2018: RMB8,391 million) (Note 17). (b) On March 18, 2013, the Company issued ten-year On July 14, 2016, the Company issued five-year medium-term bonds with a principal amount of RMB4 billion, at an issue price equal to the face value of the bonds. The bonds bear interest at the rate of 3.39% per annum, which is payable annually. The principal of the bonds will mature and become repayable on July 14, 2021. On October 24, 2016, the Company issued ten-year corporate bonds with a total principal amount of RMB3 billion, of which bonds of RMB1.5 billion bear interest at the rate of 3.03% per annum and the remaining bonds of RMB1.5 billion bear interest at the rate of 3.30% per annum. The bonds interest is payable annually. The principal of the bonds will mature and become repayable on October 24, 2026. CEA Holding has unconditionally and irrevocably guaranteed the due payment and performance of the above bonds (Note 48(d)). On November 16, 2017, Eastern Air Overseas issued three-year corporate bonds with a principal amount of SGD500 million, at an issue price equal to the face value of the bonds. The bonds bear interest at the rate of 2.80% per annum, which is payable semi-annually. The principal of the bonds will mature and become repayable on November 16, 2020. The Company has unconditionally and irrevocably guaranteed the due payment and performance of the above bonds. On March 16, 2018, the Company issued three-year Credit Enhanced bonds with a total principal amount of JPY10 billion . On March 16, 2018, the Company issued three-year Credit Enhanced bonds with a total principal amount of JPY20 billion . On March 16, 2018, the Company issued three-year Credit Enhanced bonds with a total principal amount of JPY20 billion. The bonds bear interest at the rate of 0.64% per annum, which is payable semi-annually. The principal of the bonds will mature and become repayable on March 16, 2021. The bonds are secured by a standby letter of credit issued by Industrial and Commercial Bank of China Limited acting through its Shanghai Municipal Branch. On March 7, 2019, the Company issued three-year medium-term bonds with a principal amount of RMB3 billion, at an issue price equal to the face value of the bonds. The bonds bear interest at the rate of 3.70% per annum, which is payable annually. The principal of the bonds will mature and become repayable on March 7, 2022. On August 19, 2019, the Company issued five-year corporate bonds with a total principal amount of RMB3 billion. The bonds bear interest at the rate of 3.60% per annum, which is payable annually. The principal of the bonds will mature and become repayable on August 19, 2024. On December 6, 2019, Eastern Air Overseas issued three-year corporate bonds with a principal amount of KRW300 billion, at an issue price equal to the face value of the bonds. The bonds bear interest at the rate of 2.40% per annum, which is payable annually. The principal of the bonds will mature and become repayable on December 6, 2022. The Company has unconditionally and irrevocably guaranteed the due payment and performance of the above bonds. c) On May 29, 2019, the Company issued short-term debentures with a principal of RMB2 billion and maturity of 267 days. The debentures bear interest at the rate of 3.10% per annum. On June 13, 2019, the Company issued short-term debentures with a principal of RMB3 billion and maturity of 266 days. The debentures bear interest at the rate of 3.15% per annum. On July 3, 2019, the Company issued short-term debentures with a principal of RMB3 billion and maturity of 267 days. The debentures bear interest at the rate of 2.98% per annum. On October 25, 2019, the Company issued short-term debentures with a principal of RMB3 billion and maturity of 179 days. The debentures bear interest at the rate of 2.00% per annum. On November 15, 2019, the Company issued short-term debentures with a principal of RMB3 billion and maturity of 270 days. The debentures bear interest at the rate of 2.00% per annum. On November 26, 2019, the Company issued short-term debentures with a principal of RMB2 billion and maturity of 177 days. The debentures bear interest at the rate of 1.70% per annum. On December 6, 2019, the Company issued short-term debentures with a principal of RMB2.5 billion and maturity of 270 days. The debentures bear interest at the rate of 2.00% per annum. |
Long-term borrowings [member] | |
Statement [Line Items] | |
Summary of Borrowings | The terms of the long-term borrowings and bonds were summarized as follows: Interest rate and final maturities 2019 2018 RMB million RMB million Long-term bank borrowings RMB denominated interest rates ranging from 2.65% to 3.92% with final maturities through 2024 (2018: 3.10% to 3.48%) 1,828 4,528 USD denominated interest rates ranging from 6-month 6-month 2 6-month 6-month 870 1,469 EUR denominated interest rates at 3 months Euribor+0.5% with final maturities through 2026 (2018: 3 months Euribor+0.5%) 3,073 3,566 Guaranteed bonds RMB denominated interest rates ranging from 3.03% to 5.05% with final maturities through 2026 (2018: 3.03% to 5.05%) 7,796 7,795 SGD denominated interest rates at 2.80% with final maturities through 2020 (2018: 2.80%) 2,585 2,498 JPY denominated interest rates ranging from 0.33% to 0.64% with final maturities through 2021 (2018: 0.33% to 0.64%) 3,197 3,084 KRW denominated interest rate at 2.40% with final maturities through 2022 (2018: 2.05%) 1,791 732 Unsecured bonds RMB denominated interest rates ranging from 3.39% to 3.70% with final maturities through 2024 (2018: from 3.00% to 3.39%) 9,997 8,500 KRW denominated interest rate at 2.85% with final maturities through 2019 (2018: 2.85%) — 334 31,137 32,506 |
Provision For Lease Return Co_2
Provision For Lease Return Costs For Aircraft And Engines (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Provision for Return Condition Checks for Aircraft Under Operating Leases | Details of provision for lease return costs for aircraft and engines are as follows: 2019 2018 RMB million RMB million Carrying amount at January 1 2,906 3,019 Effect of adoption IFRS 16 3,654 — Carrying amount At January 1 (restated) 6,560 3,019 Accrual 702 402 Utilization (84 ) (515 ) At December 31 7,178 2,906 Less: current portion (519 ) (145 ) Non-current portion 6,659 2,761 |
Post-Retirement Benefit Oblig_2
Post-Retirement Benefit Obligations (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Post-retirement Benefit Obligations Recognized in Consolidated Statement of Financial Position | The post-retirement benefit obligations recognized in the consolidated statement of financial position are as follows: 2019 RMB million 2018 RMB million Post-retirement benefit obligations 2,584 2,712 Less: current portion (165 ) (168 ) Non-current 2,419 2,544 |
Summary of Principal Actuarial Assumptions Utilized | The principal actuarial assumptions utilized as at the end of the reporting period are as follows: 2019 2018 Discount rates for post-retirement benefits 3.40% 3.50% Mortality rate China Insurance Life Mortality China Insurance Life Mortality Table (2010-2013). Table (2010-2013). Annual increase rate of post-retirement medical expenses 6.50% 6.50% Inflation rate of pension benefits 2.50% 2.50% |
Summary of Quantitative Sensitivity Analysis for Significant Assumptions | A quantitative sensitivity analysis for significant assumptions at the end of the reporting period is shown below: Increase Increase/ post-retirement Decrease Increase/ post-retirement 2019 Discount rate for post-retirement benefits 0.25 (74 ) 0.25 77 Annual increase rate of pension benefits 1.00 260 1.00 (222 ) Annual increase rate of medical expenses 1.00 36 1.00 (30 ) 2018 Discount rate for post-retirement benefits 0.25 (80 ) 0.25 84 Annual increase rate of pension benefits 1.00 288 1.00 (244 ) Annual increase rate of medical expenses 1.00 41 1.00 (34 ) |
Summary of Expected Contributions of Post-retirement Benefit Obligations | Expected contributions to be made in the future years out of the post-retirement benefit obligations were as follows: 2019 RMB million 2018 RMB million Within the next 12 months 165 168 Between 2 and 5 years 661 678 Between 6 and 10 years 809 841 Over 10 years 2,534 2,802 Total expected payments 4,169 4,489 |
Summary of Movements in Post-retirement Benefit Obligations | The movements in the post-retirement benefit obligations were as follows: 2019 Pension cost charged to profit or loss Remeasurement (gains)/losses January 1 Service cost Net interest Sub-total Actuarial Actuarial Experience Sub-total included comprehensive Benefit December 31 Defined benefit obligations/ benefit liability 2,712 — 92 92 30 — (70 ) (40 ) (180 ) 2,584 2018 Pension cost charged to profit or loss Remeasurement (gains)/losses January 1 Service cost Net interest Sub-total Actuarial Actuarial Experience Sub-total included comprehensive Benefit December 31 Defined benefit obligations/ benefit liability 2,670 — 106 106 184 — (69 ) 115 (179 ) 2,712 |
Other Long-term Liabilities (Ta
Other Long-term Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Other Long-term Liabilities | 2019 2018 RMB million RMB million Long-term duties and levies payable relating to leases 1,487 1,398 Deferred gains in sale and leaseback transactions — 1,115 Deferred gains relating to government grants 152 179 Provision for early retirement benefit obligations and other benefit obligations 295 324 Other long-term payables 638 666 2,572 3,682 Less: current portion included in other payables and accruals (Note 36) (294 ) (234 ) Non-current 2,278 3,448 |
Share Capital (Tables)
Share Capital (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Share Capital | 2019 2018 RMB million RMB million Registered, issued and fully paid of RMB1.00 each A shares listed on the Shanghai Stock Exchange (“A Shares”) 11,202 9,808 – Tradable shares with trading moratorium 1,394 — – Tradable shares without trading moratorium 9,808 9,808 H shares listed on the Stock Exchange of Hong Kong Limited (“H Shares”) 5,177 4,659 – Tradable shares with trading moratorium 518 — – Tradable shares without trading moratorium 4,659 4,659 16,379 14,467 |
Summary of Movements in Share Capital | A summary of movements in the Company’s share capital is as follows: Number of million At December 31, 2018 and January 1, 2019 14,467 Issue of shares ( n 1,912 At December 31, 2019 16,379 Note(a) According to the approval of China Securities Regulatory Commission, the Company completed the non-public issuance of 518 million H shares to Shanghai Juneyao Airlines Hong Kong Co., Ltd. on August 29, 2019, raising a total of RMB2,002 million in net funds. The Company also completed the non-public issuance of 1,394 million A shares to four specific investors, including Shanghai Juneyao Airlines Co., Ltd. on August 30, 2019, raising a total of RMB7,440 million in net funds. |
Reserves (Tables)
Reserves (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Reserves | Share Capital Hedging Statutory Other Retained Total RMB million RMB million RMB million RMB million RMB million RMB million RMB million At January 1, 2018 29,540 (778 ) 91 540 (2,038 ) 14,566 41,921 Unrealized gains on cash flow hedges (Note 24) — — 43 — — — 43 Fair value movements in equity investments designated at fair value through other comprehensive income — — — — (248 ) — (248 ) Fair value changes of equity investments designated at fair value through other comprehensive income held by an associate — — — — (24 ) — (24 ) Actuarial gains on post-retirement benefit obligations — — — — (111 ) — (111 ) Transfer from retained profits — — — 30 — (30 ) — Profit for the year — — — — — 2,698 2,698 Final 2017 dividend — — — — — (738 ) (738 ) At December 31, 2018 29,540 (778 ) 134 570 (2,421 ) 16,496 43,541 Effect of adoption of IFRS 16 — — — — — (1,595 ) (1,595 ) At January 1, 2019 (restated) 29,540 (778 ) 134 570 (2,421 ) 14,901 41,946 Unrealized gains on cash flow hedges (Note 24) — — (110 ) — — — (110 ) Fair value movements in equity investments designated at fair value through other comprehensive income — — — — 13 — 13 Fair value changes of equity investments designated at fair value through other comprehensive income held by an associate — — — — 7 — 7 Actuarial gains on post-retirement benefit obligations — — — — 39 — 39 Transfer from retained profits — — — 212 — (212 ) — Profit for the year — — — — — 3,192 3,192 Final 2018 dividend — — — — — — — Issue of shares 7,530 — — — — — 7,530 Others — 11 — — — 1 12 At December 31, 2019 37,070 (767 ) 24 782 (2,362 ) 17,882 52,629 Notes: (a) Capital reserve Capital reserve mainly represents the difference between the fair value of the net assets injected and the nominal amount of the Company’s share capital issued in respect of the group restructuring carried out in June 1996 for the purpose of the Company’s listing. (b) Statutory reserve According to the PRC Company Law, the Company is required to transfer a portion of the profits to the statutory reserve. The transfer to this reserve must be made before distribution of dividends to shareholders and when there are retained profits at the end of the financial year. |
Partly-owned Subsidiaries wit_2
Partly-owned Subsidiaries with Material Non-controlling Interests (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Subsidiaries that have Material Non-controlling Interests | Details of the Group’s subsidiaries that have material non-controlling 2019 2018 Percentage of equity interest held by non-controlling CEA Jiangsu 37.44 % 37.44 % CEA Yunnan 9.64 % 9.64 % CEA Wuhan 40.00 % 40.00 % 2019 RMB million 2018 RMB million Profit for the year allocated to non-controlling CEA Jiangsu 115 114 CEA Yunnan 50 33 CEA Wuhan 128 88 Dividends paid to non-controlling 37 56 Dividends paid to non-controlling 45 — Accumulated balances of non-controlling CEA Jiangsu 1,445 1,471 CEA Yunnan 704 674 CEA Wuhan 1,511 1,483 |
Summary of Financial Information of Subsidiaries that have Material Non-controlling Interests | The following tables illustrate the summarized financial information of the above subsidiaries. The amounts disclosed are before any inter-company eliminations: CEA Jiangsu RMB million CEA Yunnan RMB million CEA Wuhan RMB million 2019 Revenue 9,774 11,634 4,743 Total expenses 9,466 11,110 4,424 Profit for the year 308 524 319 Total comprehensive income for the year 309 524 328 Current assets 1,116 575 369 Non-current 12,620 19,210 7,917 Current liabilities 2,486 3,623 1,611 Non-current 7,390 8,859 2,897 Net cash flows from operating activities 1,930 2,457 885 Net cash flows used in investing activities (16 ) (425 ) (222 ) Net cash flows used in financing activities (1,874 ) (2,031 ) (666 ) Effect of foreign exchange rate changes, net — — — Net increase/ (decrease) in cash and cash equivalents 40 1 (3 ) CEA Jiangsu RMB million CEA Yunnan RMB million CEA Wuhan RMB million 2018 Revenue 9,313 10,523 4,559 Total expenses 9,008 10,183 4,340 Profit for the year 305 340 219 Total comprehensive income for the year 297 340 217 Current assets 1,338 379 237 Non-current 9,460 16,018 7,048 Current liabilities 2,116 3,213 1,634 Non-current 4,753 6,196 1,944 Net cash flows from operating activities 1,036 3,686 775 Net cash flows used in investing activities (37 ) (592 ) (534 ) Net cash flows used in financing activities (991 ) (3,099 ) (243 ) Effect of foreign exchange rate changes, net — — — Net increase/ (decrease) in cash and cash equivalents 8 (5 ) (2 ) |
Disposal of a Subsidiary (Table
Disposal of a Subsidiary (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Disposal of a Subsidiary | The details of the assets and liabilities disposed of relating to the disposal of a subsidiary are summarized as follows: At date of disposal Net assets disposed of: Property, plant and equipment 26 Investments in associates 9 Right-of-use assets 10 Other non-current assets 3 Prepayments and other receivables 278 Restricted bank deposits and short-term bank deposits 251 Trade and notes receivables 115 Cash and cash equivalents 90 Trade and bills payables (79 ) Contract liabilities (284 ) Other payables and accruals (378 ) Lease liabilities (10 ) Net assets 31 Gain on disposal of a subsidiary 64 Satisfied by: Investment in an associate 95 |
Summary of Analysis of Net Inflow of Cash and Cash Equivalents in Respect of Disposal of a Subsidiary | An analysis of the net outflow of cash and cash equivalents in respect of the disposal of a subsidiary is as follows: 2019 Cash consideration — Cash and bank balances disposed of 90 Net outflow of cash and cash equivalents in respect of the disposal of a subsidiary (90 ) |
Notes to the Consolidated Sta_2
Notes to the Consolidated Statement of Cash Flows (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Notes to Statement of Consolidated Cash Flows | (a) Cash generated from operations 2019 RMB million 2018 RMB million 2017 RMB million Profit before income tax 4,299 3,856 8,610 Adjustments for: Depreciation of property, plant and equipment 9,078 14,616 13,367 Depreciation of right-of-use 12,298 — — Amortization of intangible assets 143 160 143 Depreciation of investment properties 25 26 12 Amortization of lease prepayments — 43 45 Amortization of other non-current 536 468 402 Gains on disposal of property, plant and equipment (22 ) (267 ) (13 ) Gain on disposal of prepayments for land use rights — (210 ) (5 ) Gain on disposal of investment in a subsidiary (64 ) — (1,754 ) Gain on disposal of investment in an associate — (5 ) (12 ) Gain on disposal of available-for-sale — — (4 ) Dividend income from equity investments at fair value through other comprehensive income (19 ) (23 ) — Dividend income from available-for-sale — — (33 ) Dividend income from a financial asset at fair value through profit or loss (3 ) (6 ) — Share of results of associates (265 ) (170 ) (202 ) Share of results of joint ventures (17 ) (34 ) (49 ) Net foreign exchange loss/(gain) 890 1,983 (2,378 ) (Gain)/loss on fair value changes of financial asset at fair value through profit or loss (25 ) 27 — (Gain)/loss on fair value changes of derivative financial instruments — (311 ) 311 Impairment charges 4 318 494 Impairment losses on financial assets, net 16 27 (3 ) Interest income — (110 ) (111 ) Interest expense 5,169 3,727 3,184 Operating profit before working capital changes 32,043 24,115 22,004 Changes in working capital Flight equipment spare parts (457 ) (66 ) (109 ) Trade and notes receivables (275 ) 708 (500 ) Prepayments and other receivables (2,336 ) (2,056 ) (753 ) Sales in advance of carriage — — (569 ) Contract liabilities 1,281 1,051 — Restricted bank deposits and short-term bank deposits 9 35 (8 ) Trade and bills payables (163 ) 856 1,725 Other payables and accruals 1,459 36 340 Staff housing allowances — (36 ) 62 Other long-term liabilities (1,916 ) (525 ) (728 ) Post-retirement benefit obligations (125 ) 42 (217 ) Provision for lease return costs for aircraft and engines 617 (113 ) (139 ) Cash generated from operations 30,137 24,047 21,108 |
Summary of Major Non-cash Transactions | (b) Major non-cash 2019 RMB million 2018 RMB million 2017 RMB million Additions to right-of-use assets and lease liabilities 24,434 — — Finance lease obligations incurred for acquisition of aircraft — 7,945 6,865 * Disposal of a subsidiary of the Company for the current year also comprised a major non-cash transaction as disclosed in Note 45. |
Summary of Changes in Liabilities Arising from Financing Activities | (c) Changes in liabilities arising from financing activities Bank and RMB million Obligations under RMB million At December 31, 2018 55,126 77,427 Effect of adoption of IFRS 16 — 31,879 At January 1, 2019 (restated) 55,126 109,306 Changes from financing cash flows (3,427 ) (23,895 ) Foreign exchange movement 139 851 Disposal of a subsidiary — (10 ) New leases — 24,023 At December 31, 2019 51,838 110,275 At January 1, 2018 63,801 66,868 Changes from financing cash flows (9,076 ) (9,629 ) Foreign exchange movement 401 1,419 New finance leases — 18,769 At December 31, 2018 55,126 77,427 |
Disclosure Of Detailed Information About Cash Flow Information For Leases Explanatory | (d) Total cash outflow for leases The total cash outflow for leases included in the statement of cash flows is as follows: 2019 RMB million Within operating activities (631 ) Within investing activities (1,449 ) Within financing activities (27,789 ) |
Commitments (Tables)
Commitments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Capital Commitments | (a) The Group had the following capital commitments at the end of the reporting period: 2019 RMB million 2018 RMB million Contracted for: – Aircraft, engines and flight equipment ( n 47,822 70,998 – Other property, plant and equipment 4,917 6,481 – Investments 860 590 53,599 78,069 |
Summary of Aged Analysis of Contracted Expenditures for Aircraft, Engines and Flight Equipment | (i) Contracted expenditures for the above aircraft, engines and flight equipment, including deposits prior to delivery, subject to future inflation increase built into the contracts, were expected to be paid as follows: 2019 RMB million 2018 RMB million Within one year 18,388 29,187 In the second year 12,442 24,735 In the third year 11,956 11,809 In the fourth year 3,892 4,674 Over four years 1,144 593 47,822 70,998 |
Summary of Future Minimum Lease Rentals Under Operating Leases | As at December 31, 2018, the Group had commitments under operating leases to pay future minimum lease rentals as follows: 2018 RMB million Aircraft, engines and flight equipment Within one year 4,990 In the second year 5,371 In the third to fifth years, inclusive 12,041 After the fifth year 14,169 36,571 Land and buildings Within one year 398 In the second year 175 In the third to fifth years, inclusive 59 After the fifth year 75 707 37,278 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Nature of Related Parties | (a) Nature of related parties that do not control or controlled by the Group: Name of related party Relationship with the Group Eastern Air Group Finance Co., Ltd. (“Eastern Air Finance Company”) Associate of the Company Eastern Aviation Import & Export Co., Ltd. and its subsidiaries (“Eastern Import & Export”) Associate of the Company Shanghai Pratt & Whitney Aircraft Engine Maintenance Co., Ltd. (“Shanghai P&W”) Associate of the Company Eastern Aviation Advertising Service Co., Ltd. and its subsidiaries (“Eastern Advertising”) Associate of the Company Shanghai Collins Aviation Maintenance Service Co., Ltd. (“Collins Aviation”) Associate of the Company Shanghai Airlines Tours International (Group) Co., Ltd. and its subsidiaries (“Shanghai Airlines Tours”) Associate of the Company Beijing Xinghang Aviation Property Co., Ltd. (“Beijing Aviation Property”) Associate of the Company CAE Melbourne Flight Training Pty Limited (“CAE Melbourne”) Joint venture of the Company Shanghai Eastern Union Aviation Wheels & Brakes Maintenance Services Overhaul Engineering Co., Ltd. (“Wheels & Brakes”) Joint venture of the Company Shanghai Technologies Aerospace Co., Ltd. (“Technologies Aerospace”) Joint venture of the Company Eastern China Kaiya System Integration Co., Ltd. (“China Kaiya”) Joint venture of the Company Shanghai Hute Aviation Technology Co., Ltd. (“Shanghai Hute”) Joint venture of the Company CEA Development Co., Limited and its subsidiaries (“CEA Development”) Controlled by the same parent company China Eastern Air Catering Investment Co., Limited and its subsidiaries (“Eastern Air Catering”) Controlled by the same parent company CES International Financial Leasing Corporation Limited and its subsidiaries (“CES Lease Company”) Controlled by the same parent company Shanghai Eastern Airlines Investment Co., Ltd. and its subsidiaries (“Eastern Investment”) Controlled by the same parent company Eastern Air Logistics Co., Ltd. and its subsidiaries (“Eastern Logistics”) Controlled by the same parent company Eastern Airlines Industry Investment Company Limited (“Eastern Airlines Industry Investment”) Controlled by the same parent company CES Finance Holding Co., Limited (“CES Finance”) Controlled by the same parent company and a substantial shareholder of the Company CES Global Holdings (Hong Kong) Limited (“CES Global”) Controlled by the same parent company and a substantial shareholder of the Company Hong Kong Securities Clearing Company Ltd. (“HKSCC”) A substantial shareholder of the Company TravelSky Technology Limited (“TravelSky”) A director and vice president of the Company is a director of Travelsky China Aviation Supplies Holding Company and its subsidiaries (“CASC”) A director and vice president of the Company is a director of CASC Air France-KLM A director and vice president of the Company is a director of AFK Juneyao Airlines Co., Ltd and its subsidiaries (“Juneyao Air”) A director and vice president of the Company is a director of Juneyao Air |
Summary of Related Party Transactions | (b) Related party transactions Pricing policy Nature of transaction Related party and decision 2019 2018 Purchase of goods and services Payments on food and beverages* Eastern Air Catering (i) 1,471 1,317 CEA Development (i) — 78 Eastern Import & Export (i) 56 60 Handling charges for purchase of aircraft, flight equipment, flight equipment spare parts, other property, plant and flight equipment and repairs for aircraft and engines* Eastern Import & Export (i) 142 165 Repairs and maintenance expense Shanghai P&W (i) 1,762 2,394 for aircraft and engines Technologies Aerospace (i) 221 344 Wheels & Brakes (i) 144 129 Shanghai Hute (i) 88 74 XIESA (i) 2 — Payments on cabin cleaning services Eastern Advertising (i) 22 20 Advertising expense* Eastern Advertising (i) 29 19 Payments on system services China Kaiya (i) 16 21 Equipment maintenance fee* Collins Aviation (i) 45 60 CEA Development (i) 119 71 Automobile maintenance service, aircraft maintenance, providing transportation automobile and other products* CEA Development (i) 13 13 Property management and green maintenance expenses* CEA Development (i) 205 102 Payments on hotel accommodation service* CEA Development (i) 134 127 Shanghai Airlines Tours (i) 23 — Payments on construction and management agent Eastern Investment (i) 14 18 Payments on logistics services Eastern Import & Export (i) 49 142 Eastern Logistics (i) 53 — Civil aviation information network services** TravelSky (i) 753 646 Flight equipment spare parts maintenance** CASC (i) 143 189 Flight training fee CAE Melbourne (i) 70 75 Payments on aviation transportation cooperation and support services** AFK (i) 537 425 Payments on aviation transportation cooperation services Juneyao Air (i) 2 — Flight equipment spare parts maintenance and support services** AFK (i) 19 2 Bellyhold space management* Eastern Logistics (i) — 32 Bellyhold space operation cost* Eastern Logistics (i) 310 246 Transfer of pilots Eastern Logistics (i) 11 24 Cargo terminal business support services* Eastern Logistics (i) 481 348 Bellyhold container management Eastern Logistics (i) 13 11 Nature of transaction Related party Pricing policy 2019 RMB million 2018 RMB million Provision of services Contractual revenue from bellyhold space* Eastern Logistics (i) 3,826 2,795 Freight logistics support services* Eastern Logistics (i) 135 126 Software system and support services Eastern Logistics (i) 4 42 Transfer of freight depots and equipment Eastern Logistics (i) — 28 Media royalty fee Eastern Advertising (i) 15 14 Aviation transportation cooperation and support services** AFK (i) 593 728 Aviation transportation cooperation services Juneyao Air (i) 11 — Flight equipment spare parts maintenance and support services Juneyao Air (i) 41 — Lease p Lease payments for land and buildings under short-term leases* (2018: Land and building rental) CEA Holding (ii) 40 33 Eastern Investment (ii) 83 — Settlements of lease liabilities on aircraft and engines* (2018: Payments on operating leases and finance leases) CES Lease Company (ii) 5,779 3,984 Interest expense Interest expense on loans CEA Holding (iii) 27 13 Eastern Air Finance Company (iii) 5 — Interest income Interest income on deposits Eastern Air Finance Company (iii) 15 26 (i) The Group’s pricing policies on goods and services purchased from and provided to related parties are mutually agreed between contract parties. (ii) The Group’s pricing policies on related party lease payments are mutually agreed between contract parties. (iii) The Group’s pricing policies on related party interest rates are mutually agreed based on benchmark interest rates. * These related party transactions also constitute connected transactions or continuing connected transactions as defined in Chapter 14A of the Rules Governing the Listing of Securities on the Stock Exchange (the “Listing Rules”). ** These related party transactions constitute continuing connected transactions pursuant to the Rules Governing the Listing of Stocks on the Shanghai Stock Exchange. |
Summary of Balances with Related Parties | (c) Balances with related parties (i) Amounts due from related parties 2019 RMB million 2018 RMB million Trade and notes receivables Eastern Logistics 295 — CASC 23 — Juneyao Air 10 — Eastern Air Catering 1 1 Others 5 — 334 1 2019 RMB million 2018 RMB million Prepayments and other receivables Eastern Import & Export 272 133 Technologies Aerospace 7 31 Eastern Air Catering 6 16 Eastern Advertising 28 28 CEA Development 7 7 CEA Holding — 25 CASC 13 12 CES Global — 3 TravelSky 7 — Juneyao Air 10 — Eastern Air Finance Company 405 — Others 21 23 776 278 All the amounts due from related parties are trade in nature, interest-free and payable within normal credit terms. (ii) Amounts due to related parties 2019 RMB million 2018 RMB million Trade and bills payables Eastern Import & Export 421 229 Eastern Logistics — 167 Eastern Air Catering 390 272 Technologies Aerospace 104 141 CEA Development 76 15 Shanghai P&W 465 — Collins Aviation 7 1 CEA Holding 18 13 CASC 17 18 Shanghai Hute 13 15 TravelSky 22 333 Wheels & Brakes 17 14 Shanghai Airlines Tours 3 — Beijing Aviation Property 101 — Others 7 1 1,661 1,219 2019 2018 Other payables and accruals Eastern Import & Export 5 129 Shanghai P&W — 315 Eastern Air Catering 2 1 CEA Holding 111 104 Eastern Advertising — 3 China Kaiya — 2 CEA Development 1 49 CAE Melbourne — 311 Eastern Investment 86 10 CES Lease Company 166 164 CASC 2 2 XIESA 2 — Others 8 3 383 1,093 2019 RMB million 2018 RMB million Contract liabilities Eastern Logistics — 6 2019 RMB million 2018 RMB million Lease liabilities (2018: Obligations under finance leases) CES Lease Company 42,848 30,190 Except for the amounts due to CES Lease Company, which are related to the aircraft under leases, all other amounts due to related parties are interest-free and payable within normal credit terms given by trade creditors. (iii) Short-term deposits, loan and borrowings with related parties Average interest rate 2019 2018 2019 2018 RMB million RMB million Short-term deposits (included in cash and cash equivalents) Eastern Air Finance Company 0.35 % 0.35 % 1,122 282 Long-term borrowings (included in borrowings) CEA Holding 3.86 % 3.89 % 828 528 Loan to a joint venture CAE Melbourne 3.74 % 3.74 % 15 20 |
Summary of Key Management Compensation | The compensation paid or payable to key management for employee services mainly comprising salaries and other short-term employee benefits was analysed as follows: 2019 RMB million 2018 RMB million Directors and supervisors 1 2 Senior management 8 8 9 10 |
Financial Instruments by Cate_2
Financial Instruments by Category (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text block [abstract] | |
Summary of Financial Instruments by Category | The carrying amounts of each of the categories of financial instruments as at the end of the reporting period are as follows: 2019 Financial assets at fair value through profit or loss RMB million Financial assets at fair value through other comprehensive income RMB million Financial assets at amortized RMB million Derivatives designated as hedging instruments RMB million Total RMB million Financial assets Equity investments designated at fair value through other comprehensive income — 1,274 — — 1,274 Derivative financial instruments — — — 70 70 Financial assets included in other non-current — — 180 — 180 Trade and notes receivables — — 1,717 — 1,717 Financial asset at fair value through profit or loss 121 — — — 121 Financial assets included in prepayments and other receivables — — 11,711 — 11,711 Restricted bank deposits and short-term bank deposits — — 6 — 6 Cash and cash equivalents — — 1,350 — 1,350 Total 121 1,274 14,964 70 16,429 Financial liabilities at amortized cost RMB million Derivatives designated as hedging instruments RMB million Total RMB million Financial liabilities Trade and bills payables 3,877 — 3,877 Financial liabilities included in other payables and accruals 22,602 — 22,602 Lease liabilities 110,275 — 110,275 Borrowings 51,837 — 51,837 Derivative financial instruments — 23 23 Total 188,591 23 188,614 2018 Financial assets at fair value through profit or loss RMB million Financial assets at fair value through other comprehensive income RMB million Financial assets at amortized RMB million Derivatives designated as hedging instruments RMB million Total RMB million Financial assets Equity investments designated at fair value through other comprehensive income — 1,247 — — 1,247 Derivative financial instruments — — — 223 223 Financial assets included in other non-current — — 190 — 190 Trade and notes receivables — — 1,436 — 1,436 Financial asset at fair value through profit or loss 96 — — 96 Financial assets included in prepayments and other receivables — — 2,825 — 2,825 Restricted bank deposits and short-term bank deposits — — 16 — 16 Cash and cash equivalents — — 646 — 646 Total 96 1,247 5,113 223 6,679 Financial liabilities at amortized cost RMB million Derivatives designated as hedging instruments RMB million Total RMB million Financial liabilities Trade and bills payables 4,040 — 4,040 Financial liabilities included in other payables and accruals 21,143 — 21,143 Obligations under finance leases 77,427 — 77,427 Borrowings 55,126 — 55,126 Derivative financial instruments — 29 29 Total 157,736 29 157,765 |
Fair Value and Fair Value Hie_2
Fair Value and Fair Value Hierarchy of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Statement [LineItems] | |
Summary of Financial Instruments Not Measured at Fair Value | The carrying amounts and fair values of the Group’s financial instruments, other than those with carrying amounts that reasonably approximate to fair values, were as follows: December 31, 2019 December 31, 2018 Carrying amounts RMB million Fair values RMB million Carrying amounts RMB million Fair values RMB million Financial assets Equity investments designated at fair value through other comprehensive income 1,274 1,274 1,247 1,247 Financial asset at fair value through profit or loss 121 121 96 96 Derivative financial assets 70 70 223 223 Deposits relating to aircraft held under leases included in other non-current 156 148 177 154 Total 1,621 1,613 1,743 1,720 Financial liabilities Derivative financial liabilities 23 23 29 29 Long-term borrowings 26,604 23,754 25,867 25,875 Lease liabilities 94,685 89,491 — — Obligations under finance leases — — 68,063 64,521 Total 121,312 113,268 93,959 90,425 |
Summary of Significant Unobservable Inputs to the Valuation of Financial Instruments Together with a Quantitative Sensitivity Analysis | Set out below is a summary of significant unobservable inputs to the valuation of financial instruments together with a quantitative sensitivity analysis as at December 31, 2019 and 2018: Valuation technique Significant unobservable input Range Sensitivity of fair value to the input Unlisted equity investments Valuation multiples Discount for lack of marketability 2019: 20% to 35% (2018: 19% to 41%) 1% (2018: 1%) increase/decrease in multiple would result in increase/ decrease in fair value by RMB11 million (2018: RMB11 million) |
Disclosure of Fair Value of Financial Instruments | The following tables illustrate the fair value measurement hierarchy of the Group’s financial instruments: Assets and liabilities measured at fair value: As at December 31, 2019 Fair value measurement using Quoted prices in active markets (Level 1) RMB million Significant observable inputs (Level 2) RMB million Significant unobservable inputs (Level 3) RMB million Total RMB million Assets Equity investments designated at fair value through other comprehensive income 496 — 778 1,274 Derivative financial assets -Interest rate swaps — 70 — 70 Financial asset at fair value through profit or loss 121 — — 121 Total 617 70 778 1,465 Liabilities Derivative financial liabilities -Forward currency contracts — 23 — 23 Total — 23 — 23 As at December 31, 2018 Fair value measurement using Quoted prices Significant Significant (Level 3) Total RMB million RMB million RMB million RMB million Assets Equity investments designated at fair value through other comprehensive income 510 — 737 1,247 Derivative financial assets -Interest rate swaps — 223 — 223 Financial asset at fair value through profit or loss 96 — — 96 Total 606 223 737 1,566 Liabilities Derivative financial liabilities -Forward currency contracts — 29 — 29 Total — 29 — 29 |
At fair value [member] | |
Statement [LineItems] | |
Disclosure of Fair Value of Financial Instruments | Assets and liabilities for which fair values are disclosed: As at December 31, 2019 Fair value measurement using Quoted prices Significant Significant (Level 3) Total RMB million RMB million RMB million RMB million Assets Deposits relating to aircraft held under leases included in other non-current — 148 — 148 Liabilities Long-term borrowings 2,897 20,857 — 23,754 Lease liabilities — 89,491 — 89,491 2,897 110,496 — 113,393 As at December 31, 2018 Fair value measurement using Quoted prices Significant Significant (Level 3) Total RMB million RMB million RMB million RMB million Assets Deposits relating to aircraft held under leases included in other non-current — 154 — 154 Liabilities Long-term borrowings 2,861 23,014 — 25,875 Obligations under finance leases — 64,521 — 64,521 2,861 87,535 — 90,396 |
Financial Risk Management Obj_2
Financial Risk Management Objectives and Policies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Statement [Line Items] | |
Summary of Contractual Undiscounted Cash Flows of Financial Liabilities | The table below analyses the Group’s financial liabilities that will be settled into relevant maturity groupings based on the remaining period at the reporting date to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows. Less than 1 year 1 to 2 years 2 to 5 years Over 5 years Total RMB million RMB million RMB million RMB million RMB million At December 31, 2019 Borrowings 26,422 8,796 15,882 3,872 54,972 Lease liabilities 19,870 17,691 44,919 47,431 129,911 Trade, bills and other payables 26,479 — — — 26,479 Total 72,771 26,487 60,801 51,303 211,362 Less than 1 year 1 to 2 years 2 to 5 years Over 5 years Total RMB million RMB million RMB million RMB million RMB million At December 31, 2018 Borrowings 30,813 8,074 15,500 4,431 58,818 Obligations under finance leases 11,974 12,014 30,018 36,974 90,980 Trade, bills and other payables 19,747 — — — 19,747 Total 62,534 20,088 45,518 41,405 169,545 |
Summary of Market Equity Indices | The market equity indices for the following stock exchanges, at the close of business of the nearest trading day in the year to the end of the reporting period, and their respective highest and lowest points during the year were as follows: December 31, High/Low 2019 December 31, High/Low 2018 Hong Kong – Hang Seng Index 28,190 30,157/25,064 25,846 33,154/24,586 Shanghai – A Share Index 3,196 3,426/2,580 2,611 3,728/2,600 |
Summary of Equity Investments at Fair Value Through Other Comprehensive Income, Impact Deemed to be on Fair Value Reserve | The following table demonstrates the sensitivity to every 10% change in the fair values of the equity investments, with all other variables held constant, based on their carrying amounts at the end of the reporting period. For the purpose of this analysis, for the equity investments at fair value through other comprehensive income, the impact is deemed to be on the fair value reserve as at December 31, 2019. Carrying amount RMB million Increase/ (decrease) RMB million Increase/(decrease) RMB million 2019 Investments listed in: Hong Kong – Equity investment designated at fair value through other comprehensive income 496 — 37/(37) Shanghai – Financial asset at fair value through profit or loss 121 9/(9) — Unlisted investments at fair value: – Equity investment designated at fair value through other comprehensive income 778 — 58/(58) 2018 Investments listed in: Hong Kong – Equity investment designated at fair value through other comprehensive income 510 — 38/(38) Shanghai – Financial asset at fair value through profit or loss 96 7/(7) — Unlisted investments at fair value: – Equity investment designated at fair value through other comprehensive income 737 — 55/(55) |
Summary of Debt Ratio | The Group monitors capital on the basis of the debt ratio, which is calculated as total liabilities divided by total assets. The debt ratios as at the end of the reporting periods were as follows: December 31, RMB million January 1, RMB million December 31, RMB million Total liabilities 212,539 211,750 177,416 Total assets 285,185 271,593 239,017 Debt ratio 75 % 79 % 74 % |
Foreign currency risk. | |
Statement [Line Items] | |
Summary of Risk | The following tables detail the Group’s exposure to major currency risk at the reporting dates: 2019 USD EUR SGD KRW RMB million RMB million RMB million RMB million Trade receivables 28 47 5 10 Cash and cash equivalents 635 63 5 11 Other receivables 2,065 3 1 130 Other non-current 180 — — — Trade and other payables (105 ) (3 ) — — Lease liabilities (45,674 ) — (397 ) — Borrowings (870 ) (3,073 ) (2,587 ) (1,810 ) 2018 USD EUR SGD KRW RMB million RMB million RMB million RMB million Trade receivables 75 55 5 25 Cash and cash equivalents 124 47 10 — Other receivables — 2 1 131 Other non-current 190 — — — Trade and other payables (144 ) (2 ) (5 ) — Obligations under finance leases (25,376 ) — (514 ) — Borrowings (3,139 ) (3,566 ) (2,503 ) (1,066 ) |
Summary of Sensitivity Analysis of Risk | The following tables indicate the approximate change in the Group’s consolidated statement of profit or loss and other comprehensive income in response to a 1% appreciation or depreciation of the RMB against the following major currencies at the reporting dates: 2019 2018 Effect on Effect on other Effect on Effect on other RMB million RMB million RMB million RMB million If RMB (weakens)/strengthens against USD (328)/328 41/(41) (178)/178 34/(34) If RMB (weakens)/strengthens against EUR (22)/22 — (26)/26 — If RMB (weakens)/strengthens against SGD (22)/22 — (23)/23 — If RMB (weakens)/strengthens against KRW (12)/12 — (7)/7 — |
Interest Rate Risk [Member] | |
Statement [Line Items] | |
Summary of Risk | The following tables detail the interest rate profiles of the Group’s interest-bearing financial instruments at the reporting dates: 2019 2018 RMB million RMB million Floating rate instruments Cash and cash equivalents 1,350 646 Restricted bank deposits and short-term bank deposits 6 16 Borrowings (3,943 ) (9,705 ) Lease liabilities/Obligations under finance leases (49,851 ) (50,761 ) Interest rate swaps at notional amount 6,194 7,566 2019 2018 RMB million RMB million Fixed rate instruments Borrowings (47,929 ) (45,477 ) Lease liabilities/Obligations under finance leases (60,423 ) (26,666 ) |
Summary of Sensitivity Analysis of Risk | The following table indicates the approximate change in the Group’s profit or loss and other comprehensive income, taking the interest rate swap into consideration, if interest rate had been 25 basis points higher with all other variables held constant: 2019 2018 Effect on Effect on other Effect on Effect on other RMB million RMB million RMB million RMB million Floating rate instruments (98 ) 12 (112 ) 14 |
Corporate and Group Informati_3
Corporate and Group Information - Summary of Principal Subsidiaries (Detail) ¥ in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2019CNY (¥) | Dec. 31, 2019HKD ($) | Dec. 31, 2018CNY (¥) | |
Disclosure of subsidiaries [Line Items] | |||
Issued ordinary/registered share capital | ¥ 16,379 | ¥ 14,467 | |
China Eastern Airlines Jiangsu Co., Ltd. [member] | |||
Disclosure of subsidiaries [Line Items] | |||
Place of incorporation/registration and address | PRC | ||
Date of incorporation | Apr. 7, 1993 | ||
Issued ordinary/registered share capital | ¥ 2,000 | ||
Principal activities | Provision of airline services | ||
Place of businesss of subsidiary | Mainland China | ||
China Eastern Airlines Jiangsu Co., Ltd. [member] | Direct [member] | |||
Disclosure of subsidiaries [Line Items] | |||
Percentage of equity attributable to the Company | 62.56% | ||
China Eastern Airlines Wuhan Co., Ltd. [member] | |||
Disclosure of subsidiaries [Line Items] | |||
Place of incorporation/registration and address | PRC | ||
Date of incorporation | Aug. 16, 2002 | ||
Issued ordinary/registered share capital | ¥ 1,750 | ||
Principal activities | Provision of airline services | ||
Place of businesss of subsidiary | Mainland China | ||
China Eastern Airlines Wuhan Co., Ltd. [member] | Direct [member] | |||
Disclosure of subsidiaries [Line Items] | |||
Percentage of equity attributable to the Company | 60.00% | ||
Shanghai Eastern Flight Training Co., Ltd. [member] | |||
Disclosure of subsidiaries [Line Items] | |||
Place of incorporation/registration and address | PRC | ||
Date of incorporation | Dec. 18, 1995 | ||
Issued ordinary/registered share capital | ¥ 694 | ||
Principal activities | Provision of flight training services | ||
Place of businesss of subsidiary | Mainland China | ||
Shanghai Eastern Flight Training Co., Ltd. [member] | Direct [member] | |||
Disclosure of subsidiaries [Line Items] | |||
Percentage of equity attributable to the Company | 100.00% | ||
Shanghai Airlines Co., Ltd. [member] | |||
Disclosure of subsidiaries [Line Items] | |||
Place of incorporation/registration and address | PRC | ||
Date of incorporation | Mar. 16, 2010 | ||
Issued ordinary/registered share capital | ¥ 500 | ||
Principal activities | Provision of airline services | ||
Place of businesss of subsidiary | Mainland China | ||
Shanghai Airlines Co., Ltd. [member] | Direct [member] | |||
Disclosure of subsidiaries [Line Items] | |||
Percentage of equity attributable to the Company | 100.00% | ||
China Eastern Airlines Technology Co., Ltd. [member] | |||
Disclosure of subsidiaries [Line Items] | |||
Place of incorporation/registration and address | PRC | ||
Date of incorporation | Nov. 19, 2014 | ||
Issued ordinary/registered share capital | ¥ 4,300 | ||
Principal activities | Provision of airlinemaintenance services | ||
Place of businesss of subsidiary | Mainland China | ||
China Eastern Airlines Technology Co., Ltd. [member] | Direct [member] | |||
Disclosure of subsidiaries [Line Items] | |||
Percentage of equity attributable to the Company | 100.00% | ||
One two three Airlines Co., Ltd. ("OTT Airlines") (Originally named Eastern Business Airlines Co., Ltd.) [Member] | |||
Disclosure of subsidiaries [Line Items] | |||
Place of incorporation/registration and address | PRC | ||
Date of incorporation | Sep. 27, 2008 | ||
Issued ordinary/registered share capital | ¥ 1,500 | ||
Principal activities | Provision of business aviation services | ||
Place of businesss of subsidiary | Mainland China | ||
One two three Airlines Co., Ltd. ("OTT Airlines") (Originally named Eastern Business Airlines Co., Ltd.) [Member] | Direct [member] | |||
Disclosure of subsidiaries [Line Items] | |||
Percentage of equity attributable to the Company | 100.00% | ||
China Eastern Airlines Yunnan Co., Ltd. [member] | |||
Disclosure of subsidiaries [Line Items] | |||
Place of incorporation/registration and address | PRC | ||
Date of incorporation | Aug. 2, 2011 | ||
Issued ordinary/registered share capital | ¥ 3,662 | ||
Principal activities | Provision of airline services | ||
Place of businesss of subsidiary | Mainland China | ||
China Eastern Airlines Yunnan Co., Ltd. [member] | Direct [member] | |||
Disclosure of subsidiaries [Line Items] | |||
Percentage of equity attributable to the Company | 90.36% | ||
Eastern Air Overseas (Hong Kong) Co., Ltd. [member] | |||
Disclosure of subsidiaries [Line Items] | |||
Place of incorporation/registration and address | Hong Kong | ||
Date of incorporation | Jun. 10, 2011 | ||
Issued ordinary/registered share capital | $ | $ 280 | ||
Principal activities | Provision of import and export, investment, leasing and consultation services | ||
Eastern Air Overseas (Hong Kong) Co., Ltd. [member] | Direct [member] | |||
Disclosure of subsidiaries [Line Items] | |||
Percentage of equity attributable to the Company | 100.00% | ||
China United Airlines Co., Ltd. [member] | |||
Disclosure of subsidiaries [Line Items] | |||
Place of incorporation/registration and address | PRC | ||
Date of incorporation | Sep. 21, 1984 | ||
Issued ordinary/registered share capital | ¥ 1,320 | ||
Principal activities | Provision of airline services | ||
Place of businesss of subsidiary | Mainland China | ||
China United Airlines Co., Ltd. [member] | Direct [member] | |||
Disclosure of subsidiaries [Line Items] | |||
Percentage of equity attributable to the Company | 100.00% | ||
Eastern Airlines Hotel Co., Ltd. [member] | |||
Disclosure of subsidiaries [Line Items] | |||
Place of incorporation/registration and address | PRC | ||
Date of incorporation | Mar. 18, 1998 | ||
Issued ordinary/registered share capital | ¥ 70 | ||
Principal activities | Provision of hotel services primarily to crew | ||
Place of businesss of subsidiary | Mainland China | ||
Eastern Airlines Hotel Co., Ltd. [member] | Direct [member] | |||
Disclosure of subsidiaries [Line Items] | |||
Percentage of equity attributable to the Company | 100.00% | ||
China Eastern Airlines Application Development Center Co., Ltd. [member] | |||
Disclosure of subsidiaries [Line Items] | |||
Place of incorporation/registration and address | PRC | ||
Date of incorporation | Nov. 21, 2011 | ||
Issued ordinary/registered share capital | ¥ 498 | ||
Principal activities | Provision of research and development of technology and products in the field of aviation | ||
Place of businesss of subsidiary | Mainland China | ||
China Eastern Airlines Application Development Center Co., Ltd. [member] | Direct [member] | |||
Disclosure of subsidiaries [Line Items] | |||
Percentage of equity attributable to the Company | 100.00% | ||
China Eastern Airlines E-Commerce Co., Ltd. [member] | |||
Disclosure of subsidiaries [Line Items] | |||
Place of incorporation/registration and address | PRC | ||
Date of incorporation | Dec. 1, 2014 | ||
Issued ordinary/registered share capital | ¥ 50 | ||
Principal activities | E-commerce platform and ticket agent | ||
Place of businesss of subsidiary | Mainland China | ||
China Eastern Airlines E-Commerce Co., Ltd. [member] | Direct [member] | |||
Disclosure of subsidiaries [Line Items] | |||
Percentage of equity attributable to the Company | 100.00% |
Basis of Preparation, Changes i
Basis of Preparation, Changes in Accounting Policies and Disclosures, Issued but not yet Effective International Financial Reporting Standards, and Summary of Significant Accounting Policies - Additional Information (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of initial application of standards or interpretations [abstract] | ||
Amount current liabilities exceeded current assets | ¥ (58,620) | ¥ (57,132) |
Unutilised banking facilities | ¥ 50,060 |
Changes in Accounting Policie_3
Changes in Accounting Policies and Disclosures - Additional Information (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Jan. 01, 2019 |
Statement of financial position [line items] | ||
Right-of-use assets | ¥ 128,704 | ¥ 32,001 |
Finance lease right of use assets reclassified | ¥ 94,416 |
Changes in Accounting Policie_4
Changes in Accounting Policies and Disclosures - Summary of impacts arising from the adoption of IFRS 16 (Details) ¥ in Millions | 12 Months Ended |
Dec. 31, 2019CNY (¥) | |
Assets | |
Increase in right-of-use assets | ¥ 128,312 |
Decrease in property, plant and equipment | (94,416) |
Decrease in prepayments for land use rights | (1,387) |
Decrease in prepayments and other receivables | (403) |
Increase in deferred tax assets | 470 |
Increase in total assets | 32,576 |
Liabilities | |
Increase in lease liabilities | 109,306 |
Increase in provision for lease return costs for aircraft and engines | 3,654 |
Decrease in obligations under finance leases | (77,427) |
Decrease in other long-term liabilities | (1,115) |
Decrease in deferred tax liabilities | (84) |
Increase in total liabilities | 34,334 |
Decrease in retained profits | (1,595) |
Decrease in non-controlling interests | ¥ (163) |
Changes in Accounting Policie_5
Changes in Accounting Policies and Disclosures - Summary of reconcilation between lease liabilities and operating lease commitments (Details) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Disclosure Of Reconcilation Between Lease Liabilities And Operating Lease Commitments [Line Items] | |||
Operating lease commitments as at December 31, 2018 | ¥ 37,278 | ||
Less: Commitments relating to short-term leases and those leases with a remaining lease term ended on or before December 31, 2019 | ¥ 83 | ¥ (206) | |
Commitments relating to leases of low-value assets | (1) | ||
Operating lease commitment | ¥ 37,071 | ||
Weighted average incremental borrowing rate as at January 1, 2019 | 4.09% | ||
Discounted operating lease commitments as at January 1, 2019 | ¥ 31,879 | ||
Add: Obligations under finance leases recognized as at December 31, 2018 | 9,364 | ||
Finance Lease [Member] | |||
Disclosure Of Reconcilation Between Lease Liabilities And Operating Lease Commitments [Line Items] | |||
Add: Obligations under finance leases recognized as at December 31, 2018 | 77,427 | ||
Lease liabilities as at January 1, 2019 | ¥ 110,275 | ¥ 109,306 | ¥ 77,427 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Summary of Property, Plant and Equipment Estimated Useful Lives (Detail) | 12 Months Ended |
Dec. 31, 2019 | |
Other flight equipment, including rotables [Member] | |
Disclosure of detailed information about property, plant and equipment [Line Items] | |
Estimated useful lives of property, plant and equipment | 10 years |
Bottom of range [member] | Owned aircraft and engines [Member] | |
Disclosure of detailed information about property, plant and equipment [Line Items] | |
Estimated useful lives of property, plant and equipment | 15 years |
Bottom of range [member] | Buildings [member] | |
Disclosure of detailed information about property, plant and equipment [Line Items] | |
Estimated useful lives of property, plant and equipment | 8 years |
Bottom of range [member] | Other property, plant and equipment [member] | |
Disclosure of detailed information about property, plant and equipment [Line Items] | |
Estimated useful lives of property, plant and equipment | 3 years |
Top of range [member] | Owned aircraft and engines [Member] | |
Disclosure of detailed information about property, plant and equipment [Line Items] | |
Estimated useful lives of property, plant and equipment | 20 years |
Top of range [member] | Buildings [member] | |
Disclosure of detailed information about property, plant and equipment [Line Items] | |
Estimated useful lives of property, plant and equipment | 45 years |
Top of range [member] | Other property, plant and equipment [member] | |
Disclosure of detailed information about property, plant and equipment [Line Items] | |
Estimated useful lives of property, plant and equipment | 20 years |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Summary of Investment Property Estimated Useful Lives (Detail) - Buildings [member] | 12 Months Ended |
Dec. 31, 2019 | |
Bottom of range [member] | |
Disclosure of detailed information about investment property [Line Items] | |
Estimated useful lives of investment properties | 30 years |
Top of range [member] | |
Disclosure of detailed information about investment property [Line Items] | |
Estimated useful lives of investment properties | 35 years |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Summary of estimated useful lives of the assets under right of use assets (Detail) - Right-of-use assets [member] | 12 Months Ended |
Dec. 31, 2019 | |
Aircraft and engines under leases [member] | Bottom of range [member] | |
Disclosure Of Estimated Useful Lives Of The Assets Under Right Of Use Assets [Line Items] | |
Lease terms and the estimated useful lives right-of-use assets | 8 years |
Aircraft and engines under leases [member] | Top of range [member] | |
Disclosure Of Estimated Useful Lives Of The Assets Under Right Of Use Assets [Line Items] | |
Lease terms and the estimated useful lives right-of-use assets | 12 years |
Buildings [member] | Bottom of range [member] | |
Disclosure Of Estimated Useful Lives Of The Assets Under Right Of Use Assets [Line Items] | |
Lease terms and the estimated useful lives right-of-use assets | 2 years |
Buildings [member] | Top of range [member] | |
Disclosure Of Estimated Useful Lives Of The Assets Under Right Of Use Assets [Line Items] | |
Lease terms and the estimated useful lives right-of-use assets | 10 years |
Prepayment for land use rights [member] | |
Disclosure Of Estimated Useful Lives Of The Assets Under Right Of Use Assets [Line Items] | |
Lease terms and the estimated useful lives right-of-use assets | 50 years |
Other [member] | Bottom of range [member] | |
Disclosure Of Estimated Useful Lives Of The Assets Under Right Of Use Assets [Line Items] | |
Lease terms and the estimated useful lives right-of-use assets | 2 years |
Other [member] | Top of range [member] | |
Disclosure Of Estimated Useful Lives Of The Assets Under Right Of Use Assets [Line Items] | |
Lease terms and the estimated useful lives right-of-use assets | 5 years |
Operating Segment Information -
Operating Segment Information - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2019SegmentRegion | |
Disclosure of operating segments [abstract] | |
Number of reportable operating segments | Segment | 1 |
Number of geographical areas where the group's business operates | Region | 3 |
Operating Segment Information_2
Operating Segment Information - Summary of Segment Results (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of operating segments [Line Items] | |||
Reportable segment revenue from external customers | ¥ 120,860 | ¥ 114,930 | |
Reportable segment revenue | 120,860 | 114,930 | ¥ 101,721 |
Reportable segment profit before income tax | 4,302 | 3,867 | ¥ 8,620 |
Other segment information | |||
Depreciation and amortization | 22,077 | 15,302 | |
Impairment charges / Impairment losses on financial assets, net | 20 | 345 | |
Interest income | 96 | 110 | |
Interest expense | 5,169 | 3,727 | |
Capital expenditure | 43,156 | 31,178 | |
Reportable segment assets | 282,936 | 236,765 | |
Reportable segment liabilities | 212,539 | 177,413 | |
Airline transportation operations [member] | |||
Disclosure of operating segments [Line Items] | |||
Reportable segment revenue from external customers | 119,240 | 112,228 | |
Reportable segment revenue | 119,240 | 112,228 | |
Reportable segment profit before income tax | 2,745 | 2,723 | |
Other segment information | |||
Depreciation and amortization | 21,816 | 15,051 | |
Impairment charges / Impairment losses on financial assets, net | 20 | 338 | |
Interest income | 108 | 118 | |
Interest expense | 5,152 | 3,721 | |
Capital expenditure | 42,853 | 30,670 | |
Reportable segment assets | 274,578 | 230,533 | |
Reportable segment liabilities | 211,035 | 176,836 | |
Other segments [member] | |||
Disclosure of operating segments [Line Items] | |||
Reportable segment revenue from external customers | 1,620 | 2,702 | |
Inter-segment sales | 2,052 | 1,425 | |
Reportable segment revenue | 3,672 | 4,127 | |
Reportable segment profit before income tax | 1,164 | 622 | |
Other segment information | |||
Depreciation and amortization | 261 | 251 | |
Impairment charges / Impairment losses on financial assets, net | 7 | ||
Interest income | 1 | 1 | |
Interest expense | 30 | 15 | |
Capital expenditure | 303 | 508 | |
Reportable segment assets | 6,225 | 4,635 | |
Reportable segment liabilities | 3,146 | 2,712 | |
Eliminations [member] | |||
Disclosure of operating segments [Line Items] | |||
Inter-segment sales | (2,052) | (1,425) | |
Reportable segment revenue | (2,052) | (1,425) | |
Other segment information | |||
Interest income | (13) | (9) | |
Interest expense | (13) | (9) | |
Reportable segment assets | (1,943) | (2,248) | |
Reportable segment liabilities | (1,943) | (2,248) | |
Unallocated [member] | |||
Disclosure of operating segments [Line Items] | |||
Reportable segment profit before income tax | 393 | 522 | |
Other segment information | |||
Reportable segment assets | 4,076 | 3,845 | |
Reportable segment liabilities | ¥ 301 | ¥ 113 |
Operating Segment Information_3
Operating Segment Information - Summary of Revenues by Geographical Area (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of geographical areas [Line Items] | |||
Revenue | ¥ 120,986 | ¥ 115,278 | ¥ 102,475 |
Domestic (the PRC, excluding Hong Kong, Macau and Taiwan) [Member] | |||
Disclosure of geographical areas [Line Items] | |||
Revenue | 80,058 | 76,517 | 67,923 |
International [member] | |||
Disclosure of geographical areas [Line Items] | |||
Revenue | 37,082 | 34,744 | 3,624 |
Regional (Hong Kong, Macau and Taiwan) [member] | |||
Disclosure of geographical areas [Line Items] | |||
Revenue | ¥ 3,846 | ¥ 4,017 | ¥ 30,928 |
Operating Segment Information_4
Operating Segment Information - Summary of Reconciliation of Reportable Segment Revenues, Profit, Assets and Liabilities (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of operating segments [abstract] | |||
Reportable segment revenue | ¥ 120,860 | ¥ 114,930 | ¥ 101,721 |
- Reclassification of expired sales in advance of carriage | 357 | ||
- Reclassification of taxes relating to the expired tickets | 126 | 348 | 397 |
Consolidated revenue | 120,986 | 115,278 | 102,475 |
Profit before income tax | |||
Reportable segment profit before income tax | 4,302 | 3,867 | 8,620 |
- Differences in depreciation charges for aircraft and engines due to different depreciation lives | (3) | (11) | (10) |
Profit before income tax | 4,299 | 3,856 | ¥ 8,610 |
Assets | |||
Reportable segment assets | 282,936 | 236,765 | |
- Differences in depreciation charges for aircraft and engines due to different depreciation lives | 7 | 10 | |
- Difference in intangible asset arising from the acquisition of Shanghai Airlines | 2,242 | 2,242 | |
Consolidated assets | 285,185 | 239,017 | |
Liabilities | |||
Reportable segment liabilities | 212,539 | 177,413 | |
- Others | 3 | ||
Consolidated liabilities | ¥ 212,539 | ¥ 177,416 |
Revenues - Summary of Revenues
Revenues - Summary of Revenues (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of revenue [line items] | |||
Revenue from contract with customers | ¥ 120,986 | ¥ 115,278 | ¥ 102,475 |
Total revenue from contracts with customers | 120,986 | 115,278 | 102,475 |
Total revenue from contracts with customers | 120,986 | 115,278 | 102,475 |
Domestic (the PRC, excluding Hong Kong, Macau and Taiwan) [member] | |||
Disclosure of revenue [line items] | |||
Revenue from contract with customers | 79,868 | 76,449 | |
Total revenue from contracts with customers | 79,868 | 76,449 | |
Total revenue from contracts with customers | 79,868 | 76,449 | |
International [member] | |||
Disclosure of revenue [line items] | |||
Revenue from contract with customers | 37,082 | 34,744 | |
Total revenue from contracts with customers | 37,082 | 34,744 | |
Total revenue from contracts with customers | 37,082 | 34,744 | |
Regional (Hong Kong, Macau and Taiwan) [member] | |||
Disclosure of revenue [line items] | |||
Revenue from contract with customers | 3,846 | 4,017 | |
Total revenue from contracts with customers | 3,846 | 4,017 | |
Total revenue from contracts with customers | 3,846 | 4,017 | |
Operating segments [member] | |||
Disclosure of revenue [line items] | |||
Revenue from contract with customers | 120,796 | 115,210 | |
Total revenue from contracts with customers | 120,796 | 115,210 | |
Total revenue from contracts with customers | 120,796 | 115,210 | |
Unallocated [member] | |||
Disclosure of revenue [line items] | |||
Revenue from contract with customers | 2,052 | 1,425 | |
Total revenue from contracts with customers | 2,052 | 1,425 | |
Total revenue from contracts with customers | 2,052 | 1,425 | |
Eliminations [member] | |||
Disclosure of revenue [line items] | |||
Revenue from contract with customers | (2,052) | (1,425) | |
Total revenue from contracts with customers | (2,052) | (1,425) | |
Total revenue from contracts with customers | (2,052) | (1,425) | |
Passenger [member] | |||
Disclosure of revenue [line items] | |||
Revenue from contract with customers | 110,416 | 104,309 | |
Total revenue from contracts with customers | 110,416 | 104,309 | |
Total revenue from contracts with customers | 110,416 | 104,309 | |
Cargo And Mail [member] | |||
Disclosure of revenue [line items] | |||
Revenue from contract with customers | 3,826 | 3,627 | |
Total revenue from contracts with customers | 3,826 | 3,627 | |
Total revenue from contracts with customers | 3,826 | 3,627 | |
Tour Operations [member] | |||
Disclosure of revenue [line items] | |||
Revenue from contract with customers | 878 | 2,173 | |
Total revenue from contracts with customers | 878 | 2,173 | |
Total revenue from contracts with customers | 878 | 2,173 | |
Ground Service [member] | |||
Disclosure of revenue [line items] | |||
Revenue from contract with customers | 1,180 | 1,055 | |
Total revenue from contracts with customers | 1,180 | 1,055 | |
Total revenue from contracts with customers | 1,180 | 1,055 | |
Commission Income [member] | |||
Disclosure of revenue [line items] | |||
Revenue from contract with customers | 2,485 | 2,199 | |
Total revenue from contracts with customers | 2,485 | 2,199 | |
Total revenue from contracts with customers | 2,485 | 2,199 | |
Other income [member] | |||
Disclosure of revenue [line items] | |||
Revenue from contract with customers | 2,011 | 1,897 | |
Total revenue from contracts with customers | 2,011 | 1,897 | |
Total revenue from contracts with customers | 2,011 | 1,897 | |
Rental Income [member] | |||
Disclosure of revenue [line items] | |||
Revenue from contract with customers | 190 | 68 | 39 |
Total revenue from contracts with customers | 190 | 68 | 39 |
Total revenue from contracts with customers | 190 | 68 | 39 |
Airline transportation operations [member] | |||
Disclosure of revenue [line items] | |||
Revenue from contract with customers | 119,176 | 112,508 | |
Total revenue from contracts with customers | 119,176 | 112,508 | |
Total revenue from contracts with customers | 119,176 | 112,508 | |
Airline transportation operations [member] | Domestic (the PRC, excluding Hong Kong, Macau and Taiwan) [member] | |||
Disclosure of revenue [line items] | |||
Revenue from contract with customers | 78,248 | 73,747 | |
Total revenue from contracts with customers | 78,248 | 73,747 | |
Total revenue from contracts with customers | 78,248 | 73,747 | |
Airline transportation operations [member] | International [member] | |||
Disclosure of revenue [line items] | |||
Revenue from contract with customers | 37,082 | 34,744 | |
Total revenue from contracts with customers | 37,082 | 34,744 | |
Total revenue from contracts with customers | 37,082 | 34,744 | |
Airline transportation operations [member] | Regional (Hong Kong, Macau and Taiwan) [member] | |||
Disclosure of revenue [line items] | |||
Revenue from contract with customers | 3,846 | 4,017 | |
Total revenue from contracts with customers | 3,846 | 4,017 | |
Total revenue from contracts with customers | 3,846 | 4,017 | |
Airline transportation operations [member] | Operating segments [member] | |||
Disclosure of revenue [line items] | |||
Revenue from contract with customers | 119,176 | 112,508 | |
Total revenue from contracts with customers | 119,176 | 112,508 | |
Total revenue from contracts with customers | 119,176 | 112,508 | |
Airline transportation operations [member] | Passenger [member] | |||
Disclosure of revenue [line items] | |||
Revenue from contract with customers | 110,416 | 104,309 | |
Total revenue from contracts with customers | 110,416 | 104,309 | |
Total revenue from contracts with customers | 110,416 | 104,309 | |
Airline transportation operations [member] | Cargo And Mail [member] | |||
Disclosure of revenue [line items] | |||
Revenue from contract with customers | 3,826 | 3,627 | |
Total revenue from contracts with customers | 3,826 | 3,627 | |
Total revenue from contracts with customers | 3,826 | 3,627 | |
Airline transportation operations [member] | Ground Service [member] | |||
Disclosure of revenue [line items] | |||
Revenue from contract with customers | 1,180 | 1,055 | |
Total revenue from contracts with customers | 1,180 | 1,055 | |
Total revenue from contracts with customers | 1,180 | 1,055 | |
Airline transportation operations [member] | Commission Income [member] | |||
Disclosure of revenue [line items] | |||
Revenue from contract with customers | 2,485 | 2,199 | |
Total revenue from contracts with customers | 2,485 | 2,199 | |
Total revenue from contracts with customers | 2,485 | 2,199 | |
Airline transportation operations [member] | Other income [member] | |||
Disclosure of revenue [line items] | |||
Revenue from contract with customers | 1,269 | 1,368 | |
Total revenue from contracts with customers | 1,269 | 1,368 | |
Total revenue from contracts with customers | 1,269 | 1,368 | |
Other Operation [member] | |||
Disclosure of revenue [line items] | |||
Revenue from contract with customers | 1,620 | 2,702 | |
Total revenue from contracts with customers | 1,620 | 2,702 | |
Total revenue from contracts with customers | 1,620 | 2,702 | |
Other Operation [member] | Domestic (the PRC, excluding Hong Kong, Macau and Taiwan) [member] | |||
Disclosure of revenue [line items] | |||
Revenue from contract with customers | 1,620 | 2,702 | |
Total revenue from contracts with customers | 1,620 | 2,702 | |
Total revenue from contracts with customers | 1,620 | 2,702 | |
Other Operation [member] | Operating segments [member] | |||
Disclosure of revenue [line items] | |||
Revenue from contract with customers | 1,620 | 2,702 | |
Total revenue from contracts with customers | 1,620 | 2,702 | |
Total revenue from contracts with customers | 1,620 | 2,702 | |
Other Operation [member] | Unallocated [member] | |||
Disclosure of revenue [line items] | |||
Revenue from contract with customers | 2,052 | 1,425 | |
Total revenue from contracts with customers | 2,052 | 1,425 | |
Total revenue from contracts with customers | 2,052 | 1,425 | |
Other Operation [member] | Eliminations [member] | |||
Disclosure of revenue [line items] | |||
Revenue from contract with customers | (2,052) | (1,425) | |
Total revenue from contracts with customers | (2,052) | (1,425) | |
Total revenue from contracts with customers | (2,052) | (1,425) | |
Other Operation [member] | Tour Operations [member] | |||
Disclosure of revenue [line items] | |||
Revenue from contract with customers | 878 | 2,173 | |
Total revenue from contracts with customers | 878 | 2,173 | |
Total revenue from contracts with customers | 878 | 2,173 | |
Other Operation [member] | Other income [member] | |||
Disclosure of revenue [line items] | |||
Revenue from contract with customers | 742 | 529 | |
Total revenue from contracts with customers | 742 | 529 | |
Total revenue from contracts with customers | 742 | 529 | |
Contracts with customers [member] | |||
Disclosure of revenue [line items] | |||
Revenue from contract with customers | 120,796 | 115,210 | 102,436 |
Total revenue from contracts with customers | 120,796 | 115,210 | 102,436 |
Total revenue from contracts with customers | ¥ 120,796 | ¥ 115,210 | ¥ 102,436 |
Revenues - Schedule of Revenue
Revenues - Schedule of Revenue Recognized in Current Reporting Period that were Included in Contract Liabilities (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Passenger [member] | ||
Disclosure of revenue that was included in contract liability [line items] | ||
Revenue recognized that was included in contract liabilities at the beginning of the year | ¥ 7,216 | ¥ 6,218 |
Revenues - Summary Of Accrual a
Revenues - Summary Of Accrual and Release (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Accrual and release [abstract] | ||
At January 1 | ¥ 2,286 | ¥ 1,994 |
Deferred during the year | 1,613 | 1,519 |
Recognized as revenue during the year | (1,654) | (1,227) |
At December 31 | 2,245 | 2,286 |
Less: the related pending output value added tax therein | 188 | 240 |
Accrual and release | ¥ 2,057 | ¥ 2,046 |
Other Operating Income and Ga_3
Other Operating Income and Gains - Summary of Other Operating Income and Gains (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Analysis of income and expense [abstract] | |||
Co-operation routes income | ¥ 5,436 | ¥ 4,536 | ¥ 3,884 |
Routes subsidy income | 353 | 441 | 295 |
Other subsidy income | 535 | 453 | 762 |
Gain on disposal of items of property, plant and equipment | 40 | 290 | 69 |
Gain on disposal of prepayments for land use rights | 210 | 5 | |
Gain on disposal of available-for-sale investments | 4 | ||
Dividend income from available-for-sale investments | 33 | ||
Gain on disposal of an associate | 0 | 5 | 12 |
Dividend income from a financial asset at fair value through profit or loss | 3 | 6 | |
Dividend income from equity investments designated at fair value through other comprehensive income | 19 | 23 | |
Compensation from ticket sales agents | 331 | 348 | 271 |
Gain on disposal of investment in a subsidiary | 64 | 0 | 1,754 |
Gain on disposal of a subsidiary | 421 | 280 | 392 |
Other operating income and gains | ¥ 7,202 | ¥ 6,592 | ¥ 7,481 |
Operating Profit - Summary of O
Operating Profit - Summary of Operating Profit (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Analysis of income and expense [abstract] | |||
Amortization of intangible assets | ¥ 143 | ¥ 160 | ¥ 142 |
Depreciation of property, plant and equipment (Note 17) - owned | 9,078 | 7,926 | 7,065 |
Depreciation of property, plant and equipment, owned | 6,690 | 6,302 | |
Depreciation of right-of-use assets (Note 19(b)) (2018 and 2017: amortization of prepayments for land use rights) | 12,298 | 45 | |
Depreciation of investment properties (Note 18) | 25 | 26 | 12 |
Amortization of long-term deferred assets included in other non-current assets | 536 | 468 | 402 |
Consumption of flight equipment spare parts | 1,013 | 1,088 | 1,131 |
Auditors' remuneration | 18 | 17 | 19 |
Foreign exchange differences, net | ¥ 990 | ¥ 2,040 | ¥ (2,001) |
Wages, Salaries and Benefits -
Wages, Salaries and Benefits - Summary of Wages, Salaries and Benefits (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of defined benefit plans [Line Items] | |||
Wages, salaries, bonuses and allowances | ¥ 19,385,000 | ¥ 17,865,000 | ¥ 16,474,000 |
Employee welfare and benefits | 143,000 | 170,000 | 133,000 |
Pension | 2,571,000 | 2,306,000 | 1,987,000 |
Medical insurance | 789,000 | 706,000 | 663,000 |
Staff housing fund | 1,056,000 | 948,000 | 886,000 |
Staff housing allowances | 186,000 | 109,000 | 150,000 |
Early retirement benefits | 22,000 | 30,000 | 27,000 |
Wages and salaries | 24,152,000 | 22,134,000 | 20,320,000 |
Fees | 805 | 800 | 800 |
Salaries, allowances and benefits in kind | 665 | 1,464 | 2,133 |
Performance related bonuses | 0 | ||
Pension scheme contributions | 21 | 41 | 34 |
Total | 1,491 | 2,305 | 2,967 |
Executive directors [Member] | Liu Shaoyong [member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Performance related bonuses | 0 | 0 | 0 |
Executive directors [Member] | Ma Xulun [member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Performance related bonuses | 0 | 0 | 0 |
Executive directors [Member] | Wang Junjin [member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Performance related bonuses | 0 | ||
Executive directors [Member] | Xu Zhao [member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Performance related bonuses | 0 | 0 | |
Executive directors [Member] | Gu Jiadan [member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Performance related bonuses | 0 | 0 | |
Executive directors [Member] | Li Yangmin [member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Performance related bonuses | 0 | 0 | 0 |
Executive directors [Member] | Tang Bing [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Performance related bonuses | 0 | 0 | 0 |
Executive directors [Member] | Tian Liuwen [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Performance related bonuses | 0 | 0 | |
Executive directors [Member] | Yuan Jun [member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Salaries, allowances and benefits in kind | 867 | ||
Performance related bonuses | 0 | 0 | |
Pension scheme contributions | 14 | ||
Total | 0 | 881 | |
Independent Non-executive Directors [Member] | Lin Wanli [member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Performance related bonuses | 0 | 0 | |
Independent Non-executive Directors [Member] | Li Ruoshan [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Fees | 200 | 200 | 200 |
Performance related bonuses | 0 | 0 | 0 |
Total | 200 | 200 | 200 |
Independent Non-executive Directors [Member] | Ma Weihua [member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Fees | 200 | 200 | 200 |
Performance related bonuses | 0 | 0 | 0 |
Total | 200 | 200 | 200 |
Independent Non-executive Directors [Member] | Shao Ruiqing [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Fees | 200 | 200 | 200 |
Performance related bonuses | 0 | 0 | 0 |
Total | 200 | 200 | 200 |
Independent Non-executive Directors [Member] | Cai Hongping [member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Fees | 200 | 200 | 200 |
Performance related bonuses | 0 | 0 | 0 |
Total | 200 | 200 | 200 |
Independent Non-executive Directors [Member] | Dong Xuebo [member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Fees | 5 | ||
Performance related bonuses | 0 | ||
Total | 5 | ||
Supervisors [member] | Xi Sheng [member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Performance related bonuses | 0 | 0 | 0 |
Supervisors [member] | Gao Feng [member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Salaries, allowances and benefits in kind | 665 | 251 | |
Pension scheme contributions | 21 | 19 | |
Total | 686 | 270 | |
Supervisors [member] | Li Jinde [member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Performance related bonuses | 0 | 0 | |
Supervisors [member] | Fang Zhaoya [Member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Performance related bonuses | ¥ 0 | ||
Supervisors [member] | Ba Shengji [member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Performance related bonuses | 0 | 0 | |
Supervisors [member] | Hu Jidong [member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Salaries, allowances and benefits in kind | 1,549 | ||
Performance related bonuses | 0 | 0 | |
Pension scheme contributions | 22 | ||
Total | 1,571 | ||
Supervisors [member] | Feng Jinxiong [member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Salaries, allowances and benefits in kind | 346 | 584 | |
Performance related bonuses | 0 | 0 | |
Pension scheme contributions | 8 | 12 | |
Total | 354 | 596 | |
Supervisors [member] | Jia Shaojun [member] | |||
Disclosure of defined benefit plans [Line Items] | |||
Performance related bonuses | ¥ 0 | ¥ 0 |
Wages, Salaries and Benefits _2
Wages, Salaries and Benefits - Summary of Wages, Salaries and Benefits (Parenthetical) (Detail) | 12 Months Ended |
Dec. 31, 2019 | |
Classes of employee benefits expense [abstract] | |
Vested period on entitlement of an eligible employee | 20 years |
Wages, Salaries and Benefits _3
Wages, Salaries and Benefits - Summary of Five Highest Paid Individuals (Detail) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2017CNY (¥) | |
Disclosure of individuals with highest emoluments [Line Items] | |||
Wages, salaries, bonuses and allowances | ¥ 19,385,000 | ¥ 17,865,000 | ¥ 16,474,000 |
Total | 24,152,000 | 22,134,000 | ¥ 20,320,000 |
Five Highest Paid Individuals [Member] | |||
Disclosure of individuals with highest emoluments [Line Items] | |||
Wages, salaries, bonuses and allowances | 11,413 | 8,938 | |
Pension scheme contributions | 185 | 172 | |
Total | ¥ 11,598 | ¥ 9,110 | |
Five Highest Paid Individuals [Member] | HK$2,000,001 to HK$2,500,000 [Member] | |||
Disclosure of individuals with highest emoluments [Line Items] | |||
Number of individuals | 2 | 5 | |
Five Highest Paid Individuals [Member] | HK$2,500,001 to HK$3,000,000 [Member] | |||
Disclosure of individuals with highest emoluments [Line Items] | |||
Number of individuals | 2 | 0 | |
Five Highest Paid Individuals [Member] | HK$3,000,001 to HK$3,500,000 [Member] | |||
Disclosure of individuals with highest emoluments [Line Items] | |||
Number of individuals | 1 | 0 |
Wages, Salaries and Benefits _4
Wages, Salaries and Benefits - Summary of Information about Benefits of Directors (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Information About Benefits Of Directors [Abstract] | |||
Fees | ¥ 805 | ¥ 800 | ¥ 800 |
Salaries, allowances and benefits in kind | 665 | 1,464 | 2,133 |
Performance related bonuses | 0 | 0 | 0 |
Pension scheme contributions | 21 | 41 | 34 |
Total | ¥ 1,491 | ¥ 2,305 | ¥ 2,967 |
Wages, Salaries and Benefits _5
Wages, Salaries and Benefits - Additional Information (Detail) - CNY (¥) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Directors, supervisors and five highest paid individuals [member] | ||
Disclosure of defined benefit plans [Line Items] | ||
Emoluments paid by the Group | ¥ 0 | ¥ 0 |
Impairment Charges - Summary of
Impairment Charges - Summary of Impairment Charges (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of impairment loss and reversal of impairment loss [abstract] | |||
Impairment charge on property, plant and equipment | ¥ 4 | ¥ 15 | ¥ 379 |
Write-down of flight equipment spare parts to net realizable value | 301 | 112 | |
Impairment charge on assets classified as held for sale | 2 | 3 | |
Impairment charges | ¥ 4 | ¥ 318 | ¥ 494 |
Impairment Losses on Financia_3
Impairment Losses on Financial Assets, Net - Summary of Impairment Losses on Financial Assets, Net (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of impairment loss and reversal of impairment loss [abstract] | |||
Reversal of impairment losses on trade receivables | ¥ (6) | ¥ (21) | ¥ (3) |
Impairment losses on other receivables (note 31) | 22 | 48 | |
Reversal of impairment loss | ¥ 16 | ¥ 27 | ¥ (3) |
Fair Value Changes of Derivat_3
Fair Value Changes of Derivative Financial Instruments - Summary of (Loss)/Gain on Fair Value Changes of Derivative Financial Instruments (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of fair value gains and losses of derivative financial instruments [line items] | |||
Gains (Losses) on fair value changes of derivative financial instruments | ¥ 311 | ¥ (311) | |
Forward foreign exchange contracts [member] | |||
Disclosure of fair value gains and losses of derivative financial instruments [line items] | |||
Gains (Losses) on fair value changes of derivative financial instruments | ¥ 0 | ¥ 311 | ¥ (311) |
Finance Income - Summary of Fin
Finance Income - Summary of Finance Income (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Analysis of income and expense [abstract] | |||
Interest income | ¥ 96 | ¥ 110 | ¥ 111 |
Foreign exchange gains, net (note 13(b)) | 2,001 | ||
Interest income | ¥ 96 | ¥ 110 | ¥ 2,112 |
Finance Costs - Summary of Fina
Finance Costs - Summary of Finance Costs (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Analysis of income and expense [abstract] | |||
Interest on bank borrowings | ¥ 1,149 | ¥ 1,569 | ¥ 1,590 |
Interest relating to lease liabilities (note 19(c)) | 3,894 | ||
Interest relating to obligations under finance leases | 2,440 | 1,845 | |
Interest relating to post-retirement benefit obligations | 92 | 106 | 98 |
Interest relating to provision for lease return costs for aircraft and engines | 270 | ||
Interest on bonds and debentures | 520 | 468 | 381 |
Interest relating to interest rate swap contracts | (68) | (6) | 63 |
Less: amount capitalized into advanced payments on acquisition of aircraft | (687) | (850) | (793) |
Interest expense | 5,170 | 3,727 | 3,184 |
Foreign exchange losses, net | 990 | 2,040 | |
Finance costs | ¥ 6,160 | ¥ 5,767 | ¥ 3,184 |
Finance Costs - Summary of Fi_2
Finance Costs - Summary of Finance Costs (Parenthetical) (Detail) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Analysis of income and expense [abstract] | |||
Average interest rate used for interest capitalisation | 3.51% | 3.54% | 3.40% |
Income Tax Expense - Summary of
Income Tax Expense - Summary of Income Tax Charged to Profit or Loss (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Major components of tax expense (income) [abstract] | |||
Income tax | ¥ 942 | ¥ 1,220 | ¥ 1,962 |
Deferred taxation | (123) | (294) | (162) |
Income tax expense | ¥ 819 | ¥ 926 | ¥ 1,800 |
Income Tax Expense - Additional
Income Tax Expense - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of income taxes [Line Items] | |||
Income tax rate | 25.00% | 25.00% | 25.00% |
Sichuan Branch [member] | |||
Disclosure of income taxes [Line Items] | |||
Income tax rate | 15.00% | ||
Gansu Branch [member] | |||
Disclosure of income taxes [Line Items] | |||
Income tax rate | 15.00% | ||
Xibei Branch [member] | |||
Disclosure of income taxes [Line Items] | |||
Income tax rate | 15.00% | ||
Hong Kong [member] | |||
Disclosure of income taxes [Line Items] | |||
Income tax rate | 16.50% | 16.50% | |
China Eastern Airlines Yunnan Co., Ltd. [member] | |||
Disclosure of income taxes [Line Items] | |||
Income tax rate | 15.00% | ||
China Eastern Airlines E-Commerce Co., Ltd. [member] | |||
Disclosure of income taxes [Line Items] | |||
Income tax rate | 15.00% | 15.00% |
Income Tax Expense - Summary _2
Income Tax Expense - Summary of the Reconciliation of Statutory Tax Rates to Effective Tax Rate (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Reconciliation of accounting profit multiplied by applicable tax rates [abstract] | |||
Profit before income tax | ¥ 4,299 | ¥ 3,856 | ¥ 8,610 |
Tax calculated at the tax rate of 25% (2018: 25%, 2017:25%) | 1,075 | 964 | 2,152 |
Lower tax rates enacted by local authority | (139) | (93) | (87) |
Share of results of associates and joint ventures | (71) | (51) | (63) |
Income not subject to tax | (36) | (9) | (13) |
Expenses not deductible for tax | 128 | 88 | 38 |
Utilization of previously unrecognized tax losses | (11) | (60) | (253) |
Unrecognized tax losses for the year | 17 | 28 | 48 |
Utilization of previously unrecognized deductible temporary differences | (8) | (1) | (5) |
Unrecognized deductible temporary differences | 3 | 23 | 2 |
Adjustments in respect of current tax of previous periods | (34) | 61 | (8) |
Super deduction of research and development costs | (27) | (24) | (11) |
Income tax deduction of purchase of special equipment for production safety | (78) | ||
Income tax expense | ¥ 819 | ¥ 926 | ¥ 1,800 |
Effective tax rate | 19.05% | 24.01% | 20.91% |
Income Tax Expense - Summary _3
Income Tax Expense - Summary of the Reconciliation of Statutory Tax Rates to Effective Tax Rate (Parenthetical) (Detail) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Reconciliation of accounting profit multiplied by applicable tax rates [abstract] | |||
Tax rate | 25.00% | 25.00% | 25.00% |
Dividends - Summary of Dividend
Dividends - Summary of Dividends (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of Dividends Paid [abstract] | |||
Proposed final – RMB0.050 per ordinary share (2018: Nil, 2017: RMB0.049) | ¥ 819 | ¥ 740 |
Dividends - Summary of Divide_2
Dividends - Summary of Dividends (Parenthetical) (Detail) - ¥ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of Dividends Paid [abstract] | |||
Dividends proposed per ordinary share | ¥ 0.050 | ¥ 0 | ¥ 0.049 |
Dividends - Additional Informat
Dividends - Additional Information (Detail) - CNY (¥) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement [LineItems] | ||||
Dividends proposed per ordinary share | ¥ 0.050 | ¥ 0 | ¥ 0.049 | |
Dividends proposed or declared amount | ¥ 819,000,000 | ¥ 740,000,000 | ||
Dividend Proposal [Member] | ||||
Statement [LineItems] | ||||
Dividends proposed per ordinary share | ¥ 0.050 | |||
Dividends proposed or declared amount | ¥ 819 | |||
Number of shares in on proposal of dividend | 16,379,509,203 |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Earnings per share [abstract] | |||
Profit attributable to equity holders of the Company | ¥ 3,192 | ¥ 2,698 | ¥ 6,342 |
Weighted average number of shares | 15,104,893,522 | 14,467,585,682 | 14,467,585,682 |
Potentially dilutive options | 0 | 0 | 0 |
Potentially dilutive other instruments | 0 | 0 | 0 |
Property, Plant and Equipment -
Property, Plant and Equipment - Summary of Property, Plant and Equipment (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Beginning balance | ¥ 180,104 | ¥ 166,856 | |
Additions | 8,054 | 21,283 | |
Disposals | (91) | (4,892) | |
Transfer from construction in progress | 0 | ||
Transfer from advanced payments on acquisition of aircraft | 335 | 11,520 | |
Transfer from investment properties (Note 18) | 76 | 18 | |
Transfer from right-of-use assets (Note 19) | 14,264 | ||
Transfer to investment properties (Note 18) | (23) | (386) | |
Assets included in assets classified as held for sale | (13) | ||
Transfer from/(to) other non-current assets | 242 | 349 | |
Disposal of a subsidiary (Note 45) | (26) | ||
Depreciation provided during the year | (9,078) | (14,616) | |
Impairment | (4) | (15) | ¥ (379) |
Transfers | 0 | ||
Ending balance | 99,437 | 180,104 | 166,856 |
IFRS 16 [Member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Beginning balance | 85,688 | ||
Effect of adoption of IFRS | (94,416) | ||
Ending balance | 85,688 | ||
Cost [member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Beginning balance | 254,362 | 237,546 | |
Ending balance | 162,072 | 254,362 | 237,546 |
Accumulated depreciation and amortization [member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Beginning balance | (74,258) | (70,690) | |
Ending balance | (62,635) | (74,258) | (70,690) |
Net Carrying Amount [member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Beginning balance | 180,104 | 166,856 | |
Ending balance | 99,437 | 180,104 | 166,856 |
Aircrafts, engines and flight equipment, owned [member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Beginning balance | 68,565 | 68,994 | |
Effect of adoption of IFRS | 0 | ||
Additions | 4,137 | 6,057 | |
Disposals | (10) | (3,304) | |
Transfer from construction in progress | 0 | ||
Transfer from advanced payments on acquisition of aircraft | 335 | 824 | |
Transfer from investment properties (Note 18) | 0 | ||
Transfer from right-of-use assets (Note 19) | 14,264 | ||
Transfer to investment properties (Note 18) | 0 | ||
Assets included in assets classified as held for sale | (13) | ||
Transfer from/(to) other non-current assets | 0 | ||
Disposal of a subsidiary (Note 45) | 0 | ||
Depreciation provided during the year | (7,812) | (6,798) | |
Impairment | 0 | (15) | |
Transfers | 2,820 | ||
Ending balance | 79,479 | 68,565 | 68,994 |
Aircrafts, engines and flight equipment, owned [member] | IFRS 16 [Member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Beginning balance | 68,565 | ||
Ending balance | 68,565 | ||
Aircrafts, engines and flight equipment, owned [member] | Cost [member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Beginning balance | 111,968 | 111,297 | |
Ending balance | 133,845 | 111,968 | 111,297 |
Aircrafts, engines and flight equipment, owned [member] | Accumulated depreciation and amortization [member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Beginning balance | (43,403) | (42,303) | |
Ending balance | (54,366) | (43,403) | (42,303) |
Aircrafts, engines and flight equipment, owned [member] | Net Carrying Amount [member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Beginning balance | 68,565 | 68,994 | |
Ending balance | 79,479 | 68,565 | 68,994 |
Aircrafts, engines and flight equipment, held under finance leases [member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Beginning balance | 94,416 | 84,760 | |
Additions | 9,821 | ||
Disposals | 0 | (1,332) | |
Transfer from construction in progress | 0 | ||
Transfer from advanced payments on acquisition of aircraft | 0 | 10,696 | |
Transfer from investment properties (Note 18) | 0 | ||
Transfer from right-of-use assets (Note 19) | 0 | ||
Transfer to investment properties (Note 18) | 0 | ||
Transfer from/(to) other non-current assets | 0 | ||
Disposal of a subsidiary (Note 45) | 0 | ||
Depreciation provided during the year | (6,709) | ||
Impairment | 0 | ||
Transfers | (2,820) | ||
Ending balance | 0 | 94,416 | 84,760 |
Aircrafts, engines and flight equipment, held under finance leases [member] | IFRS 16 [Member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Beginning balance | 0 | ||
Effect of adoption of IFRS | (94,416) | ||
Ending balance | 0 | ||
Aircrafts, engines and flight equipment, held under finance leases [member] | Cost [member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Beginning balance | 117,824 | 105,801 | |
Ending balance | 0 | 117,824 | 105,801 |
Aircrafts, engines and flight equipment, held under finance leases [member] | Accumulated depreciation and amortization [member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Beginning balance | (23,408) | (21,041) | |
Ending balance | 0 | (23,408) | (21,041) |
Aircrafts, engines and flight equipment, held under finance leases [member] | Net Carrying Amount [member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Beginning balance | 94,416 | 84,760 | |
Ending balance | 0 | 94,416 | 84,760 |
Buildings [member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Beginning balance | 8,530 | 6,478 | |
Effect of adoption of IFRS | 0 | ||
Additions | (41) | 32 | |
Disposals | (40) | (202) | |
Transfer from construction in progress | 3,523 | 2,909 | |
Transfer from advanced payments on acquisition of aircraft | 0 | ||
Transfer from investment properties (Note 18) | 76 | 18 | |
Transfer from right-of-use assets (Note 19) | 0 | ||
Transfer to investment properties (Note 18) | (23) | (386) | |
Transfer from/(to) other non-current assets | 0 | ||
Disposal of a subsidiary (Note 45) | (8) | ||
Depreciation provided during the year | (363) | (318) | |
Impairment | 0 | ||
Transfers | (1) | ||
Ending balance | 11,654 | 8,530 | 6,478 |
Buildings [member] | IFRS 16 [Member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Beginning balance | 8,530 | ||
Ending balance | 8,530 | ||
Buildings [member] | Cost [member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Beginning balance | 10,689 | 8,809 | |
Ending balance | 14,153 | 10,689 | 8,809 |
Buildings [member] | Accumulated depreciation and amortization [member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Beginning balance | (2,159) | (2,331) | |
Ending balance | (2,499) | (2,159) | (2,331) |
Buildings [member] | Net Carrying Amount [member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Beginning balance | 8,530 | 6,478 | |
Ending balance | 11,654 | 8,530 | 6,478 |
Other property, plant and equipment [member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Beginning balance | 4,174 | 2,919 | |
Effect of adoption of IFRS | 0 | ||
Additions | 716 | 1,192 | |
Disposals | (41) | (54) | |
Transfer from construction in progress | 214 | 548 | |
Transfer from advanced payments on acquisition of aircraft | 0 | ||
Transfer from investment properties (Note 18) | 0 | ||
Transfer from right-of-use assets (Note 19) | 0 | ||
Transfer to investment properties (Note 18) | 0 | ||
Transfer from/(to) other non-current assets | 309 | 359 | |
Disposal of a subsidiary (Note 45) | (18) | ||
Depreciation provided during the year | (903) | (791) | |
Impairment | (4) | ||
Transfers | 1 | ||
Ending balance | 4,447 | 4,174 | 2,919 |
Other property, plant and equipment [member] | IFRS 16 [Member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Beginning balance | 4,174 | ||
Ending balance | 4,174 | ||
Other property, plant and equipment [member] | Cost [member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Beginning balance | 9,462 | 7,934 | |
Ending balance | 10,217 | 9,462 | 7,934 |
Other property, plant and equipment [member] | Accumulated depreciation and amortization [member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Beginning balance | (5,288) | (5,015) | |
Ending balance | (5,770) | (5,288) | (5,015) |
Other property, plant and equipment [member] | Net Carrying Amount [member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Beginning balance | 4,174 | 2,919 | |
Ending balance | 4,447 | 4,174 | 2,919 |
Construction in progress [member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Beginning balance | 4,419 | 3,705 | |
Effect of adoption of IFRS | 0 | ||
Additions | 3,242 | 4,181 | |
Disposals | 0 | 0 | |
Transfer from construction in progress | (3,737) | (3,457) | |
Transfer from advanced payments on acquisition of aircraft | 0 | 0 | |
Transfer from investment properties (Note 18) | 0 | 0 | |
Transfer from right-of-use assets (Note 19) | 0 | ||
Transfer to investment properties (Note 18) | 0 | 0 | |
Assets included in assets classified as held for sale | 0 | ||
Transfer from/(to) other non-current assets | (67) | (10) | |
Disposal of a subsidiary (Note 45) | 0 | ||
Depreciation provided during the year | 0 | 0 | |
Impairment | 0 | 0 | |
Transfers | 0 | ||
Ending balance | 3,857 | 4,419 | 3,705 |
Construction in progress [member] | IFRS 16 [Member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Beginning balance | 4,419 | ||
Ending balance | 4,419 | ||
Construction in progress [member] | Cost [member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Beginning balance | 4,419 | 3,705 | |
Ending balance | 3,857 | 4,419 | 3,705 |
Construction in progress [member] | Accumulated depreciation and amortization [member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Beginning balance | 0 | 0 | |
Ending balance | 0 | 0 | 0 |
Construction in progress [member] | Net Carrying Amount [member] | |||
Disclosure of detailed information about property, plant and equipment [Line Items] | |||
Beginning balance | 4,419 | 3,705 | |
Ending balance | ¥ 3,857 | ¥ 4,419 | ¥ 3,705 |
Property, Plant and Equipment_2
Property, Plant and Equipment - Additional Information (Detail) ¥ in Millions | Dec. 31, 2019CNY (¥) |
Disclosure of detailed information about property, plant and equipment [Line Items] | |
Property, plant and equipment where ownership certificates have not obtained | ¥ 9,206 |
Property, Plant and Equipment_3
Property, Plant and Equipment - Summary of Cost and Carring Amount of Aircraft Pledged as Collateral Under Borrowing Arrangements and Aircraft Held Under Finance Leases (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
- pledged as collateral | ¥ 7,243 | ¥ 8,391 |
Cost [member] | Aircraft [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
- pledged as collateral | 10,819 | 11,752 |
Net Carrying Amount [member] | Aircraft [member] | ||
Disclosure of detailed information about property, plant and equipment [Line Items] | ||
- pledged as collateral | ¥ 7,243 | ¥ 8,391 |
Investment Properties - Summary
Investment Properties - Summary of Investment Properties (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of detailed information about investment property [Line Items] | |||
Beginning balance | ¥ 724 | ||
Charge for the year (Note 7) | (25) | ¥ (26) | ¥ (12) |
Ending balance | 653 | 724 | |
Cost [member] | |||
Disclosure of detailed information about investment property [Line Items] | |||
Beginning balance | 940 | 392 | |
Transfer from property, plant and equipment (Note 17) | 35 | 474 | |
Transfer from right-of-use assets (Note 19(b)) | 13 | 0 | |
Transfer from intangible asset | 0 | 98 | |
Transfer to property, plant and equipment (Note 17) | (101) | (24) | |
Transfer to right-of-use assets (Note 19(b)) | (4) | 0 | |
Ending balance | 883 | 940 | 392 |
Accumulated depreciation and amortization [member] | |||
Disclosure of detailed information about investment property [Line Items] | |||
Beginning balance | 216 | 90 | |
Transfer from property, plant and equipment (Note 17) | 12 | 88 | |
Transfer from right-of-use assets (Note 19(b)) | 3 | 0 | |
Transfer from intangible asset | 0 | 18 | |
Transfer to property, plant and equipment (Note 17) | (25) | (6) | |
Transfer to right-of-use assets (Note 19(b)) | (1) | ||
Charge for the year (Note 7) | 25 | 26 | |
Ending balance | ¥ 230 | ¥ 216 | ¥ 90 |
Investment Properties - Additio
Investment Properties - Additional Information (Detail) - CNY (¥) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of detailed information about investment property [Line Items] | |||
Fair value of the investment properties | ¥ 653,000,000 | ¥ 724,000,000 | |
Rental income | 100,000,000 | 63,000,000 | ¥ 39,000,000 |
The amount of investment properties subject to restrictions on title | 451,000,000 | 498,000,000 | |
Investment properties [member] | |||
Disclosure of detailed information about investment property [Line Items] | |||
Transfers of fair value measurements from level 1 to level 2 | 0 | 0 | |
Transfers of fair value measurements from level 2 to level 1 | 0 | 0 | |
Transfers of fair value measurements into level 3 | 0 | 0 | |
Transfers of fair value measurements out of level 3 | 0 | 0 | |
Not measured at fair value but for which fair values are disclosed [member] | |||
Disclosure of detailed information about investment property [Line Items] | |||
Fair value of the investment properties | ¥ 1,125,000,000 | ¥ 1,127,000,000 |
Investment Properties - Summa_2
Investment Properties - Summary of Fair Value Measurement Hierarchy of Investment Properties (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about investment property [Line Items] | ||
Buildings | ¥ 653 | ¥ 724 |
Not measured at fair value but for which fair values are disclosed [member] | ||
Disclosure of detailed information about investment property [Line Items] | ||
Buildings | 1,125 | 1,127 |
Not measured at fair value but for which fair values are disclosed [member] | Quoted pricesin active markets (Level 1) | ||
Disclosure of detailed information about investment property [Line Items] | ||
Buildings | 0 | |
Not measured at fair value but for which fair values are disclosed [member] | Significant observable inputs (Level 2) [member] | ||
Disclosure of detailed information about investment property [Line Items] | ||
Buildings | 144 | 243 |
Not measured at fair value but for which fair values are disclosed [member] | Significant unobservable inputs (Level 3) [member] | ||
Disclosure of detailed information about investment property [Line Items] | ||
Buildings | ¥ 981 | ¥ 884 |
Leases - Summary of Prepayments
Leases - Summary of Prepayments For Land Use Rights (Detail) ¥ in Millions | 12 Months Ended |
Dec. 31, 2018CNY (¥) | |
Disclosure Of Prepayments For Land Use Rights [Line Items] | |
Carrying amount at January 1, 2018 | ¥ 1,717 |
Recognized in profit or loss during the year | (330) |
Carrying amount at December 31, 2018 | ¥ 1,387 |
Leases - Summary of right of us
Leases - Summary of right of use assets and the movements (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2017 | Jan. 01, 2019 | |
Disclosure Of Right Of Use Assets And The Movements [Line Items] | |||
Cost at January 1, 2019, net of accumulated depreciation | ¥ 128,704 | ¥ 32,001 | |
Depreciation provided during the year | (12,298) | ¥ (45) | |
Right-of-use assets | 128,704 | 32,001 | |
Finance Lease [Member] | |||
Disclosure Of Right Of Use Assets And The Movements [Line Items] | |||
Cost at January 1, 2019, net of accumulated depreciation | 128,704 | 128,312 | |
Additions | 27,011 | ||
Transfer from investment properties (Note 18) | 3 | ||
Transfer to property, plant and equipment (Note 17) | (14,264) | ||
Transfer to investment properties (Note 18) | (10) | ||
Disposal of a subsidiary (Note 45) | (10) | ||
Disposals | (40) | ||
Depreciation provided during the year | (12,298) | ||
Right-of-use assets | 128,704 | 128,312 | |
Cost [member] | Finance Lease [Member] | |||
Disclosure Of Right Of Use Assets And The Movements [Line Items] | |||
Cost at January 1, 2019, net of accumulated depreciation | 175,545 | ||
Right-of-use assets | 175,545 | ||
Accumulated depreciation [member] | Finance Lease [Member] | |||
Disclosure Of Right Of Use Assets And The Movements [Line Items] | |||
Cost at January 1, 2019, net of accumulated depreciation | (46,841) | ||
Right-of-use assets | (46,841) | ||
Net carrying amount [member] | Finance Lease [Member] | |||
Disclosure Of Right Of Use Assets And The Movements [Line Items] | |||
Cost at January 1, 2019, net of accumulated depreciation | 128,704 | ||
Right-of-use assets | 128,704 | ||
Aircraft, engines and flight equipment [member] | Finance Lease [Member] | |||
Disclosure Of Right Of Use Assets And The Movements [Line Items] | |||
Cost at January 1, 2019, net of accumulated depreciation | 126,464 | 126,417 | |
Additions | 26,315 | ||
Transfer to property, plant and equipment (Note 17) | (14,264) | ||
Disposal of a subsidiary (Note 45) | 0 | ||
Disposals | (40) | ||
Depreciation provided during the year | (11,964) | ||
Right-of-use assets | 126,464 | 126,417 | |
Aircraft, engines and flight equipment [member] | Cost [member] | Finance Lease [Member] | |||
Disclosure Of Right Of Use Assets And The Movements [Line Items] | |||
Cost at January 1, 2019, net of accumulated depreciation | 172,690 | ||
Right-of-use assets | 172,690 | ||
Aircraft, engines and flight equipment [member] | Accumulated depreciation [member] | Finance Lease [Member] | |||
Disclosure Of Right Of Use Assets And The Movements [Line Items] | |||
Cost at January 1, 2019, net of accumulated depreciation | (46,226) | ||
Right-of-use assets | (46,226) | ||
Aircraft, engines and flight equipment [member] | Net carrying amount [member] | Finance Lease [Member] | |||
Disclosure Of Right Of Use Assets And The Movements [Line Items] | |||
Cost at January 1, 2019, net of accumulated depreciation | 126,464 | ||
Right-of-use assets | 126,464 | ||
Prepayments for land use rights [member] | Finance Lease [Member] | |||
Disclosure Of Right Of Use Assets And The Movements [Line Items] | |||
Cost at January 1, 2019, net of accumulated depreciation | 1,343 | 1,387 | |
Additions | 1 | ||
Transfer from investment properties (Note 18) | 3 | ||
Transfer to property, plant and equipment (Note 17) | 0 | ||
Transfer to investment properties (Note 18) | (10) | ||
Disposal of a subsidiary (Note 45) | 0 | ||
Disposals | 0 | ||
Depreciation provided during the year | (38) | ||
Right-of-use assets | 1,343 | 1,387 | |
Prepayments for land use rights [member] | Cost [member] | Finance Lease [Member] | |||
Disclosure Of Right Of Use Assets And The Movements [Line Items] | |||
Cost at January 1, 2019, net of accumulated depreciation | 1,662 | ||
Right-of-use assets | 1,662 | ||
Prepayments for land use rights [member] | Accumulated depreciation [member] | Finance Lease [Member] | |||
Disclosure Of Right Of Use Assets And The Movements [Line Items] | |||
Cost at January 1, 2019, net of accumulated depreciation | (319) | ||
Right-of-use assets | (319) | ||
Prepayments for land use rights [member] | Net carrying amount [member] | Finance Lease [Member] | |||
Disclosure Of Right Of Use Assets And The Movements [Line Items] | |||
Cost at January 1, 2019, net of accumulated depreciation | 1,343 | ||
Right-of-use assets | 1,343 | ||
Buildings [member] | Finance Lease [Member] | |||
Disclosure Of Right Of Use Assets And The Movements [Line Items] | |||
Cost at January 1, 2019, net of accumulated depreciation | 824 | 496 | |
Additions | 622 | ||
Transfer to property, plant and equipment (Note 17) | 0 | ||
Disposal of a subsidiary (Note 45) | (10) | ||
Disposals | 0 | ||
Depreciation provided during the year | (284) | ||
Right-of-use assets | 824 | 496 | |
Buildings [member] | Cost [member] | Finance Lease [Member] | |||
Disclosure Of Right Of Use Assets And The Movements [Line Items] | |||
Cost at January 1, 2019, net of accumulated depreciation | 1,108 | ||
Right-of-use assets | 1,108 | ||
Buildings [member] | Accumulated depreciation [member] | Finance Lease [Member] | |||
Disclosure Of Right Of Use Assets And The Movements [Line Items] | |||
Cost at January 1, 2019, net of accumulated depreciation | (284) | ||
Right-of-use assets | (284) | ||
Buildings [member] | Net carrying amount [member] | Finance Lease [Member] | |||
Disclosure Of Right Of Use Assets And The Movements [Line Items] | |||
Cost at January 1, 2019, net of accumulated depreciation | 824 | ||
Right-of-use assets | 824 | ||
Other assets [member] | Finance Lease [Member] | |||
Disclosure Of Right Of Use Assets And The Movements [Line Items] | |||
Cost at January 1, 2019, net of accumulated depreciation | 73 | 12 | |
Additions | 73 | ||
Transfer to property, plant and equipment (Note 17) | 0 | ||
Disposal of a subsidiary (Note 45) | 0 | ||
Disposals | 0 | ||
Depreciation provided during the year | (12) | ||
Right-of-use assets | 73 | ¥ 12 | |
Other assets [member] | Cost [member] | Finance Lease [Member] | |||
Disclosure Of Right Of Use Assets And The Movements [Line Items] | |||
Cost at January 1, 2019, net of accumulated depreciation | 85 | ||
Right-of-use assets | 85 | ||
Other assets [member] | Accumulated depreciation [member] | Finance Lease [Member] | |||
Disclosure Of Right Of Use Assets And The Movements [Line Items] | |||
Cost at January 1, 2019, net of accumulated depreciation | (12) | ||
Right-of-use assets | (12) | ||
Other assets [member] | Net carrying amount [member] | Finance Lease [Member] | |||
Disclosure Of Right Of Use Assets And The Movements [Line Items] | |||
Cost at January 1, 2019, net of accumulated depreciation | 73 | ||
Right-of-use assets | ¥ 73 |
Leases - Summary of lease liabi
Leases - Summary of lease liabilities (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Lease Liabilities [Line Items] | ||
Accretion of interest recognized during the year | ¥ 3,894 | |
Payments | (631) | |
Current portion | 15,590 | |
Non-current portion | 94,685 | |
Finance Lease [Member] | ||
Disclosure Of Lease Liabilities [Line Items] | ||
Carrying amount at January 1 | 77,427 | |
Effect of adoption IFRS16 | 31,879 | |
New leases | 24,023 | ¥ 18,769 |
Effect of foreign exchange | 851 | 1,419 |
Disposal of a subsidiary (Note 45) | (10) | |
Accretion of interest recognized during the year | 3,894 | 2,440 |
Payments | (27,789) | (12,069) |
Carrying amount at December 31 | 110,275 | 77,427 |
Current portion | 15,590 | 9,364 |
Non-current portion | 94,685 | 68,063 |
Finance Lease [Member] | Previously stated [member] | ||
Disclosure Of Lease Liabilities [Line Items] | ||
Carrying amount at January 1 | ¥ 109,306 | 66,868 |
Carrying amount at December 31 | ¥ 109,306 |
Leases - Schedule of undiscount
Leases - Schedule of undiscounted lease payments receivables (Detail) ¥ in Millions | Dec. 31, 2019CNY (¥) |
Disclosure of maturity analysis of operating lease payments [Line items] | |
Undiscounted operating lease payments to be received | ¥ 956 |
Less than 1 year [member] | |
Disclosure of maturity analysis of operating lease payments [Line items] | |
Undiscounted operating lease payments to be received | 165 |
1 to 2 years [member] | |
Disclosure of maturity analysis of operating lease payments [Line items] | |
Undiscounted operating lease payments to be received | 149 |
In the third year [member] | |
Disclosure of maturity analysis of operating lease payments [Line items] | |
Undiscounted operating lease payments to be received | 144 |
In the fourth year [member] | |
Disclosure of maturity analysis of operating lease payments [Line items] | |
Undiscounted operating lease payments to be received | 139 |
In the fifth year [member] | |
Disclosure of maturity analysis of operating lease payments [Line items] | |
Undiscounted operating lease payments to be received | 138 |
Later than five years [member] | |
Disclosure of maturity analysis of operating lease payments [Line items] | |
Undiscounted operating lease payments to be received | ¥ 221 |
Leases - Disclosure of lease ex
Leases - Disclosure of lease expenses (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2017 | |
Total amount recognised in profit or loss | ||
Interest on lease liabilities | ¥ 3,894 | |
Depreciation charge of right-of-use assets | 12,298 | ¥ 45 |
Low value and short-term lease rental | 631 | |
Total amount recognized in profit or loss | ¥ 16,823 |
Leases - Additional Information
Leases - Additional Information (Detail) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2019CNY (¥)Aircraft | Dec. 31, 2018CNY (¥)Aircraft | |
Disclosure Of Leases [Line Items] | ||
Number of aircrafts | Aircraft | 462 | 450 |
Operating lease income | ¥ | ¥ 190 | ¥ 68 |
Bottom of range [member] | ||
Disclosure Of Leases [Line Items] | ||
Lease Terms | 8 years | |
Top of range [member] | ||
Disclosure Of Leases [Line Items] | ||
Lease Terms | 12 years | |
Engine [Member] | Bottom of range [member] | ||
Disclosure Of Leases [Line Items] | ||
Lease Terms | 8 years | |
Engine [Member] | Top of range [member] | ||
Disclosure Of Leases [Line Items] | ||
Lease Terms | 12 years | |
Buildings [member] | Bottom of range [member] | ||
Disclosure Of Leases [Line Items] | ||
Lease Terms | 2 years | |
Buildings [member] | Top of range [member] | ||
Disclosure Of Leases [Line Items] | ||
Lease Terms | 10 years | |
Land [member] | ||
Disclosure Of Leases [Line Items] | ||
Lease Terms | 50 years | |
Motor vehicles [member] | Bottom of range [member] | ||
Disclosure Of Leases [Line Items] | ||
Lease Terms | 2 years | |
Motor vehicles [member] | Top of range [member] | ||
Disclosure Of Leases [Line Items] | ||
Lease Terms | 5 years |
Intangible Assets - Summary of
Intangible Assets - Summary of Intangible Assets (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of reconciliation of changes in intangible assets and goodwill [Line items] | |||
Beginning balance | ¥ 11,609 | ¥ 11,596 | |
Additions | 199 | 166 | |
Amortization provided during the year | (143) | (160) | ¥ (142) |
Transfer from construction in process | 36 | 7 | |
Disposals | (3) | ||
Ending balance | 11,698 | 11,609 | 11,596 |
Cost [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line items] | |||
Beginning balance | 12,445 | ||
Ending balance | 12,669 | 12,445 | |
Accumulated depreciation and amortization [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line items] | |||
Beginning balance | (836) | ||
Ending balance | (971) | (836) | |
Goodwill [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line items] | |||
Beginning balance | 11,270 | 11,270 | |
Additions | 0 | ||
Amortization provided during the year | 0 | ||
Transfer from construction in process | 0 | ||
Disposals | 0 | ||
Ending balance | 11,270 | 11,270 | 11,270 |
Goodwill [member] | Cost [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line items] | |||
Beginning balance | 11,270 | ||
Ending balance | 11,270 | 11,270 | |
Computer software [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line items] | |||
Beginning balance | 339 | 293 | |
Additions | 199 | 166 | |
Amortization provided during the year | (143) | (127) | |
Transfer from construction in process | 36 | 7 | |
Disposals | (3) | ||
Ending balance | 428 | 339 | 293 |
Computer software [member] | Cost [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line items] | |||
Beginning balance | 1,077 | ||
Ending balance | 1,301 | 1,077 | |
Computer software [member] | Accumulated depreciation and amortization [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line items] | |||
Beginning balance | (738) | ||
Ending balance | (873) | (738) | |
Others [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line items] | |||
Beginning balance | 0 | 33 | |
Additions | 0 | ||
Amortization provided during the year | 0 | (33) | |
Ending balance | 0 | 0 | ¥ 33 |
Others [member] | Cost [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line items] | |||
Beginning balance | 98 | ||
Ending balance | 98 | 98 | |
Others [member] | Accumulated depreciation and amortization [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line items] | |||
Beginning balance | (98) | ||
Ending balance | ¥ (98) | ¥ (98) |
Intangible Assets - Summary o_2
Intangible Assets - Summary of Intangible Assets (Parenthetical) (Detail) | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract] | ||
Discount rate applied to the cash flow projections | 9.50% | 10.00% |
Growth rate used to extrapolate the cash flows | 3.00% | 3.00% |
Investments in Associates - Sum
Investments in Associates - Summary of Investments in Associates (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of associates [abstract] | ||
Share of net assets | ¥ 1,977 | ¥ 1,696 |
Investments in Associates - S_2
Investments in Associates - Summary of Movements in Investments in Associates (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of associates [abstract] | |||
At January 1 | ¥ 1,696 | ¥ 1,654 | |
Additions | 95 | ||
Share of results of associates | 265 | 170 | ¥ 202 |
Share of revaluation on equity investments designated at fair value through other comprehensive income held by an associate | 7 | (24) | |
Share of other equity changes of an associate | 8 | ||
Dividend received during the year | (85) | (104) | |
Disposal of a subsidiary (Note 45) | (9) | ||
At December 31 | ¥ 1,977 | ¥ 1,696 | ¥ 1,654 |
Investments in Associates - S_3
Investments in Associates - Summary of Principal Associates (Detail) ¥ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Disclosure of associates [Line Items] | ||||
Registered capital | ¥ 16,379 | ¥ 14,467 | ||
Eastern Air Group Finance Co., Ltd. [member] | ||||
Disclosure of associates [Line Items] | ||||
Place of establishment and operation | PRC/Mainland China | |||
Date of establishment | Dec. 6, 1995 | |||
Registered capital | ¥ 2,000 | ¥ 2,000 | ||
Attributable equity interest | 25.00% | 25.00% | ||
Principal activities | Provision of financial services to group companies of CEA Holding | |||
China Eastern Air Catering Investment Co., Ltd. [member] | ||||
Disclosure of associates [Line Items] | ||||
Place of establishment and operation | PRC/Mainland China | |||
Date of establishment | Nov. 17, 2003 | |||
Registered capital | ¥ 350 | ¥ 350 | ||
Attributable equity interest | 45.00% | 45.00% | ||
Principal activities | Provision of air catering services | |||
Shanghai Pratt & Whitney Aircraft Engine Maintenance Co., Ltd. [member] | ||||
Disclosure of associates [Line Items] | ||||
Place of establishment and operation | PRC/Mainland China | |||
Date of establishment | Mar. 28, 2008 | |||
Registered capital | $ | $ 40 | $ 40 | ||
Attributable equity interest | 51.00% | 51.00% | ||
Principal activities | Provision of aircraft, engine and other related components maintenance services | |||
New Shanghai International Tower Co., Ltd. [member] | ||||
Disclosure of associates [Line Items] | ||||
Place of establishment and operation | PRC/Mainland China | |||
Date of establishment | Nov. 17, 1992 | |||
Registered capital | ¥ 167 | ¥ 167 | ||
Attributable equity interest | 20.00% | 20.00% | ||
Principal activities | Property development provision and management services | |||
Eastern Aviation Import & Export Co., Ltd. [member] | ||||
Disclosure of associates [Line Items] | ||||
Place of establishment and operation | PRC/Mainland China | |||
Date of establishment | Jun. 9, 1993 | |||
Registered capital | ¥ 80 | ¥ 80 | ||
Attributable equity interest | 45.00% | 45.00% | ||
Principal activities | Provision of aviation equipment and spare parts purchase | |||
Eastern Aviation Advertising Service Co., Ltd. [member] | ||||
Disclosure of associates [Line Items] | ||||
Place of establishment and operation | PRC/Mainland China | |||
Date of establishment | Mar. 4, 1986 | |||
Registered capital | ¥ 200 | ¥ 200 | ||
Attributable equity interest | 45.00% | 45.00% | ||
Principal activities | Provision of aviation advertising agency services | |||
Shanghai Collins Aviation Maintenance Service Co., Ltd. [member] | ||||
Disclosure of associates [Line Items] | ||||
Place of establishment and operation | PRC/Mainland China | |||
Date of establishment | Sep. 27, 2002 | |||
Registered capital | $ | $ 7 | $ 7 | ||
Attributable equity interest | 35.00% | 35.00% | ||
Principal activities | Provision of airline electronic product maintenance services | |||
Shanghai Airlines Tours International (Group) Co., Ltd [member] | ||||
Disclosure of associates [Line Items] | ||||
Place of establishment and operation | PRC/Mainland China | |||
Date of establishment | Aug. 29, 1992 | |||
Registered capital | ¥ 143 | ¥ 50 | ||
Attributable equity interest | 35.00% | 100.00% | ||
Principal activities | Tour operations, travel and air ticketing agency and transportation |
Investments in Associates - Add
Investments in Associates - Additional Information (Detail) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Shanghai Pratt & Whitney Aircraft Engine Maintenance Co., Ltd. [member] | ||
Disclosure of associates [Line Items] | ||
Ownership interest | 51.00% | 51.00% |
Investments in Associates - S_4
Investments in Associates - Summary of Aggregate Financial Information of Associates (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of associates [Line Items] | |||
Share of the associates' profit for the year | ¥ 265 | ¥ 170 | ¥ 202 |
Share of the associates' other comprehensive income | 10 | ||
Aggregate carrying amount of the Group's interests in the associates | 1,977 | 1,696 | ¥ 1,654 |
Associates [member] | |||
Disclosure of associates [Line Items] | |||
Share of the associates' other comprehensive income | 7 | (24) | |
Share of the associates' total comprehensive income | ¥ 272 | ¥ 146 |
Investments in Joint Ventures -
Investments in Joint Ventures - Summary of Investments in Joint Ventures (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of joint ventures [abstract] | ||
Share of net assets | ¥ 627 | ¥ 577 |
Investments in Joint Ventures_2
Investments in Joint Ventures - Summary of Movements in Investments in Joint Ventures (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of joint ventures [abstract] | |||
Beginning balance | ¥ 577 | ¥ 557 | |
Additions | 102 | 16 | |
Share of results | 17 | 34 | ¥ 49 |
Dividend received during the year | (69) | (30) | |
Ending balance | ¥ 627 | ¥ 577 | ¥ 557 |
Investments in Joint Ventures_3
Investments in Joint Ventures - Summary of Principal Joint Ventures (Detail) ¥ in Millions, $ in Millions | 12 Months Ended | |||||
Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2019USD ($) | Dec. 31, 2019AUD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2018AUD ($) | |
Disclosure of joint ventures [Line Items] | ||||||
Paid-up capital | ¥ | ¥ 16,379 | ¥ 14,467 | ||||
Shanghai Technologies Aerospace Co., Ltd. [member] | ||||||
Disclosure of joint ventures [Line Items] | ||||||
Place of establishment and operation | PRC/Mainland China | |||||
Date of establishment | Sep. 28, 2004 | |||||
Paid-up capital | $ 73,000,000 | $ 73,000,000 | ||||
Attributable equity interest | 51.00% | 51.00% | ||||
Principal activities | Provision of repair and maintenance services | |||||
Shanghai Eastern Union Aviation Wheels & Brakes Maintenance Services Overhaul Engineering Co., Ltd. [member] | ||||||
Disclosure of joint ventures [Line Items] | ||||||
Place of establishment and operation | PRC/Mainland China | |||||
Date of establishment | Dec. 28, 1995 | |||||
Paid-up capital | 2,000,000 | 2,000,000 | ||||
Attributable equity interest | 40.00% | 40.00% | ||||
Principal activities | Provision of spare parts repair and maintenance services | |||||
Eastern China Kaiya System Integration Co., Ltd. [member] | ||||||
Disclosure of joint ventures [Line Items] | ||||||
Place of establishment and operation | PRC/Mainland China | |||||
Date of establishment | May 21, 1999 | |||||
Paid-up capital | ¥ | ¥ 10 | ¥ 10 | ||||
Attributable equity interest | 41.00% | 41.00% | ||||
Principal activities | Provision of computer systems development and maintenance services | |||||
CAE Melbourne Flight Training Pty Ltd. [member] | ||||||
Disclosure of joint ventures [Line Items] | ||||||
Place of establishment and operation | Australia | |||||
Date of establishment | Mar. 9, 2007 | |||||
Paid-up capital | $ 11 | $ 11 | ||||
Attributable equity interest | 50.00% | 50.00% | ||||
Principal activities | Provision of flight training services | |||||
Shanghai Hute Aviation Technology Co., Ltd. [member] | ||||||
Disclosure of joint ventures [Line Items] | ||||||
Place of establishment and operation | PRC/Mainland China | |||||
Date of establishment | Apr. 9, 2003 | |||||
Paid-up capital | 30,000,000 | 30,000,000 | ||||
Attributable equity interest | 50.00% | 50.00% | ||||
Principal activities | Provision of equipment maintenance services | |||||
Xi'an CEA SAFRAN Landing Systems Services Co., Ltd [member] | ||||||
Disclosure of joint ventures [Line Items] | ||||||
Place of establishment and operation | PRC/Mainland China | |||||
Date of establishment | Jul. 12, 2017 | |||||
Paid-up capital | $ 40 | $ 40 | ||||
Attributable equity interest | 50.00% | 50.00% | ||||
Principal activities | Provision of aircraft, engine and other related components maintenance services |
Investments in Joint Ventures_4
Investments in Joint Ventures - Summary of Aggregate Financial Information of Joint Ventures (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of joint ventures [Line Items] | |||
Share of the joint ventures' profit for the year | ¥ 17 | ¥ 34 | ¥ 49 |
Aggregate carrying amount of the Group's interests in the joint ventures | 627 | 577 | ¥ 557 |
Joint ventures [member] | |||
Disclosure of joint ventures [Line Items] | |||
Share of the joint ventures' total comprehensive income | ¥ 17 | ¥ 34 |
Equity Investments Designated_3
Equity Investments Designated at Fair Value Through Other Comprehensive Income - Summary of Equity Investments Designated at Fair Value Through Other Comprehensive Income (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Equity investments designated at fair value through other comprehensive income | ¥ 1,274 | ¥ 1,247 |
Listed equity investments, at fair value [member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Equity investments designated at fair value through other comprehensive income | 496 | 510 |
Listed equity investments, at fair value [member] | Travelsky technology limited [member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Equity investments designated at fair value through other comprehensive income | 496 | 510 |
Unlisted equity investments, at cost [member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Equity investments designated at fair value through other comprehensive income | 778 | 737 |
Unlisted equity investments, at cost [member] | Sichuan Airlines Corporation Limited [member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Equity investments designated at fair value through other comprehensive income | 336 | 438 |
Unlisted equity investments, at cost [member] | Aviation Data Communication Corporation Limited [member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Equity investments designated at fair value through other comprehensive income | 244 | 161 |
Unlisted equity investments, at cost [member] | Others [member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Equity investments designated at fair value through other comprehensive income | ¥ 198 | ¥ 138 |
Equity Investments Designated_4
Equity Investments Designated at Fair Value Through Other Comprehensive Income - Additional Information (Detail) ¥ in Millions | 12 Months Ended |
Dec. 31, 2019CNY (¥) | |
Travelsky technology limited [member] | |
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | |
Dividends received | ¥ 8 |
Sichuan Airlines Corporation Limited [member] | |
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | |
Dividends received | 2 |
Other non-listed equity investments designated at fair value through other comprehensive income [member] | |
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | |
Dividends received | 5 |
Aviation Data Communication Corporation Limited [member] | |
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | |
Dividends received | ¥ 4 |
Derivative Financial Instrume_3
Derivative Financial Instruments - Summary of Derivative Financial Instruments (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about financial instruments [Line Items] | ||
Derivative financial instruments, assets | ¥ 70 | ¥ 223 |
Derivative financial instruments, current assets | 43 | 1 |
Derivative financial instruments, noncurrent assets | 27 | 222 |
Derivative financial instruments, liabilities | 23 | 29 |
Derivative financial instruments, current liabilities | 13 | 29 |
Derivative financial instruments, noncurrent liabilities | 10 | |
Forward currency contracts [member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Derivative financial instruments, assets | 43 | |
Derivative financial instruments, current assets | 43 | |
Derivative financial instruments, liabilities | 13 | 29 |
Derivative financial instruments, current liabilities | 13 | 29 |
Interest rate swaps [member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Derivative financial instruments, assets | 27 | 223 |
Derivative financial instruments, current assets | 0 | ¥ 1 |
Derivative financial instruments, liabilities | 10 | |
Derivative financial instruments, current liabilities | ¥ 0 |
Derivative Financial Instrume_4
Derivative Financial Instruments - Additional Information (Detail) - 12 months ended Dec. 31, 2019 ¥ in Millions, $ in Millions | CNY (¥) | USD ($) | USD ($) |
Disclosure of detailed information about financial instruments [Line Items] | |||
Market interest rates under finance leases | ¥ | ¥ 3,894 | ||
Forward currency contracts [member] | |||
Disclosure of detailed information about financial instruments [Line Items] | |||
Hedge ratio | 1.00% | 1.00% | |
Interest rate swaps [member] | |||
Disclosure of detailed information about financial instruments [Line Items] | |||
Notional amount | ¥ | ¥ 6,194 | ||
Hedge ratio | 1.00% | 1.00% | |
Interest Rate Risk [Member] | Interest rate swaps [member] | |||
Disclosure of detailed information about financial instruments [Line Items] | |||
Notional amount | $ | $ 888 | ||
Market interest rates under finance leases | $ | $ 888 |
Derivative Financial Instrume_5
Derivative Financial Instruments - Summary of Changes to Forecasted Amounts of Cash Flows of Hedged Items and Hedging Instruments (Detail) ¥ in Millions | 12 Months Ended |
Dec. 31, 2019CNY (¥)shares | |
Forward currency contracts (forecasted transactions are highly probable) | Capital expenditures [member] | |
Disclosure of Changes to Forecasted Amounts of Cash Flows of Hedged Items and Hedging Instruments [line items] | |
Notional amount (in RMB million) | ¥ 2,721 |
Average forward rate (RMB/USD) | shares | 6.9771 |
Forward currency contracts (forecasted transactions are highly probable) | Highly probable forecasted purchases [member] | |
Disclosure of Changes to Forecasted Amounts of Cash Flows of Hedged Items and Hedging Instruments [line items] | |
Notional amount (in RMB million) | ¥ 2,693 |
Average forward rate (RMB/USD) | shares | 6.9368 |
Interest rate swaps [member] | |
Disclosure of Changes to Forecasted Amounts of Cash Flows of Hedged Items and Hedging Instruments [line items] | |
Notional amount (in RMB million) | ¥ 6,194 |
Hedged rate (%) | 1.6831% |
Less than 3 months [member] | Interest rate swaps [member] | |
Disclosure of Changes to Forecasted Amounts of Cash Flows of Hedged Items and Hedging Instruments [line items] | |
Notional amount (in RMB million) | ¥ 31 |
Hedged rate (%) | 2.045% |
3 to 6 months [member] | Forward currency contracts (forecasted transactions are highly probable) | Capital expenditures [member] | |
Disclosure of Changes to Forecasted Amounts of Cash Flows of Hedged Items and Hedging Instruments [line items] | |
Notional amount (in RMB million) | ¥ 628 |
Average forward rate (RMB/USD) | shares | 7.0151 |
3 to 6 months [member] | Interest rate swaps [member] | |
Disclosure of Changes to Forecasted Amounts of Cash Flows of Hedged Items and Hedging Instruments [line items] | |
Notional amount (in RMB million) | ¥ 30 |
Hedged rate (%) | 1.88% |
6 to 9 months [member] | Forward currency contracts (forecasted transactions are highly probable) | Capital expenditures [member] | |
Disclosure of Changes to Forecasted Amounts of Cash Flows of Hedged Items and Hedging Instruments [line items] | |
Notional amount (in RMB million) | ¥ 1,047 |
Average forward rate (RMB/USD) | shares | 6.9325 |
6 to 9 months [member] | Forward currency contracts (forecasted transactions are highly probable) | Highly probable forecasted purchases [member] | |
Disclosure of Changes to Forecasted Amounts of Cash Flows of Hedged Items and Hedging Instruments [line items] | |
Notional amount (in RMB million) | ¥ 1,835 |
Average forward rate (RMB/USD) | shares | 6.9629 |
9 to 12 months [member] | Forward currency contracts (forecasted transactions are highly probable) | Capital expenditures [member] | |
Disclosure of Changes to Forecasted Amounts of Cash Flows of Hedged Items and Hedging Instruments [line items] | |
Notional amount (in RMB million) | ¥ 1,046 |
Average forward rate (RMB/USD) | shares | 6.9988 |
9 to 12 months [member] | Forward currency contracts (forecasted transactions are highly probable) | Highly probable forecasted purchases [member] | |
Disclosure of Changes to Forecasted Amounts of Cash Flows of Hedged Items and Hedging Instruments [line items] | |
Notional amount (in RMB million) | ¥ 858 |
Average forward rate (RMB/USD) | shares | 6.8810 |
Over 365 days [member] | Interest rate swaps [member] | |
Disclosure of Changes to Forecasted Amounts of Cash Flows of Hedged Items and Hedging Instruments [line items] | |
Notional amount (in RMB million) | ¥ 6,133 |
Hedged rate (%) | 1.6803% |
Derivative Financial Instrume_6
Derivative Financial Instruments - Summary of Impacts of Hedging Instruments on Statement of Financial Position (Detail) - 12 months ended Dec. 31, 2019 ¥ in Millions, $ in Millions | CNY (¥) | USD ($) |
Forward currency contracts [member] | Capital expenditures [member] | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | ¥ 2,721 | |
Carrying amount, Assets | ¥ 8 | |
Line item in the statement of financial position | Derivative financial instruments | |
Change in fair value used for measuring hedge ineffectiveness for the year RMB million | ¥ 141 | |
Forward currency contracts [member] | Highly probable forecasted purchases [member] | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 2,693 | |
Carrying amount, Assets | ¥ 22 | |
Line item in the statement of financial position | Derivative financial instruments | |
Change in fair value used for measuring hedge ineffectiveness for the year RMB million | ¥ 22 | |
Forward currency contracts [member] | Foreign currency risk. | Payment on bonds [member] | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Line item in the statement of financial position | Derivative financial instruments | |
Change in fair value used for measuring hedge ineffectiveness for the year RMB million | ¥ 14 | |
Interest rate swaps [member] | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 6,194 | |
Interest rate swaps [member] | Interest Rate Risk [Member] | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | $ | $ 888 | |
Interest rate swaps [member] | Interest Rate Risk [Member] | Payment on lease liabilities [member] | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 6,194 | |
Carrying amount, Liabilities | ¥ 17 | |
Line item in the statement of financial position | Derivative financial instruments | |
Change in fair value used for measuring hedge ineffectiveness for the year RMB million | ¥ (137) |
Derivative Financial Instrume_7
Derivative Financial Instruments - Summary of impacts of Hedged Items on Statement of Financial Position (Detail) ¥ in Millions | 12 Months Ended |
Dec. 31, 2019CNY (¥) | |
Disclosure of detailed information about hedged items [line items] | |
Change in fair value used for measuring hedge ineffectiveness for the year | ¥ 14 |
Cash flow hedge reserve | 47 |
Capital expenditures [member] | |
Disclosure of detailed information about hedged items [line items] | |
Change in fair value used for measuring hedge ineffectiveness for the year | 141 |
Cash flow hedge reserve | 8 |
Highly probable forecasted purchases [member] | |
Disclosure of detailed information about hedged items [line items] | |
Change in fair value used for measuring hedge ineffectiveness for the year | 22 |
Cash flow hedge reserve | 22 |
Payment on bonds [member] | |
Disclosure of detailed information about hedged items [line items] | |
Change in fair value used for measuring hedge ineffectiveness for the year | 14 |
Cash flow hedge reserve | 0 |
Payment on lease liabilities [member] | |
Disclosure of detailed information about hedged items [line items] | |
Change in fair value used for measuring hedge ineffectiveness for the year | (163) |
Cash flow hedge reserve | ¥ 17 |
Derivative Financial Instrume_8
Derivative Financial Instruments - Summary of Effects of Cash Flow Hedge on Statement of Profit or Loss and Statement of Comprehensive Income (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | |||
Net other comprehensive income that may be reclassified to profit or loss in subsequent periods | ¥ (110) | ¥ 43 | ¥ 160 |
Capital expenditures [member] | |||
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | |||
Gross amount | 141 | ||
Tax effect | (35) | ||
Total | 106 | ||
Hedge ineffectiveness recognized in profit or loss | 0 | ||
Gross amount | (82) | ||
Tax effect | 20 | ||
Net other comprehensive income that may be reclassified to profit or loss in subsequent periods | ¥ (62) | ||
Line item (gross amount) in the statement of profit or loss | Finance Costs | ||
Highly probable forecasted purchases [member] | |||
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | |||
Gross amount | ¥ 22 | ||
Tax effect | (6) | ||
Total | 16 | ||
Hedge ineffectiveness recognized in profit or loss | 0 | ||
Gross amount | (22) | ||
Tax effect | 6 | ||
Net other comprehensive income that may be reclassified to profit or loss in subsequent periods | ¥ (16) | ||
Line item (gross amount) in the statement of profit or loss | Finance Costs | ||
Payment on bonds [member] | |||
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | |||
Gross amount | ¥ 14 | ||
Tax effect | (4) | ||
Total | 10 | ||
Hedge ineffectiveness recognized in profit or loss | 0 | ||
Gross amount | (14) | ||
Tax effect | 4 | ||
Net other comprehensive income that may be reclassified to profit or loss in subsequent periods | ¥ (10) | ||
Line item (gross amount) in the statement of profit or loss | Finance Costs | ||
Payment on lease liabilities [member] | |||
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | |||
Gross amount | ¥ (137) | ||
Tax effect | 34 | ||
Total | (103) | ||
Hedge ineffectiveness recognized in profit or loss | 0 | ||
Gross amount | (68) | ||
Tax effect | 17 | ||
Net other comprehensive income that may be reclassified to profit or loss in subsequent periods | ¥ (51) | ||
Line item (gross amount) in the statement of profit or loss | Finance Costs |
Other Non-current Assets - Summ
Other Non-current Assets - Summary of Other Non-current Assets (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Miscellaneous non-current assets [abstract] | ||
Deposits relating to aircraft held under leases | ¥ 156 | ¥ 177 |
Deferred pilot recruitment costs | 1,873 | 1,536 |
Rebate receivables on aircraft acquisitions | 42 | 55 |
Prepayment for acquisition of property, plant and equipment | 1,095 | 854 |
Others | 804 | 748 |
Other non-current assets | ¥ 3,970 | ¥ 3,370 |
Deferred Taxation - Summary of
Deferred Taxation - Summary of Net Deferred Tax Assets/(Liabilities) (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Deferred tax assets and liabilities [abstract] | |||
Deferred tax assets | ¥ 853 | ¥ 207 | |
Deferred tax liabilities | (22) | (84) | |
Net deferred tax assets | ¥ 831 | ¥ 123 | ¥ (240) |
Deferred Taxation - Summary o_2
Deferred Taxation - Summary of Movements in Net Deferred Tax Assets/(Liabilities) (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | ¥ 123 | ¥ (240) | |
Credited to profit or loss (note 14) | 123 | 294 | ¥ 162 |
Charged to other comprehensive income | 31 | 69 | |
At the end of the year | 831 | 123 | (240) |
Currently Stated [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 677 | (240) | |
At the end of the year | ¥ 677 | ¥ (240) | |
Adoption of IFRS 16 [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Effect of adoption | ¥ 94,416 |
Deferred Taxation - Summary o_3
Deferred Taxation - Summary of Deferred Tax Assets and Liabilities Prior to Offsetting of Balances within Same Tax Jurisdiction (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Deferred tax assets | ¥ 853 | ¥ 207 | |
Net deferred tax (liabilities)/assets | 831 | 123 | ¥ (240) |
Deferred tax liabilities | (22) | (84) | |
Provision for lease return costs for aircraft and engines [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Net deferred tax (liabilities)/assets | 1,075 | ||
Impairment provision for flight equipment spare parts [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Net deferred tax (liabilities)/assets | 53 | 126 | |
Impairment provision for receivables [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Net deferred tax (liabilities)/assets | 76 | 75 | |
Impairment provision for property, plant, and equipment [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Net deferred tax (liabilities)/assets | 101 | 103 | |
Derivative financial instruments [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Net deferred tax (liabilities)/assets | 6 | 7 | |
Assets at fair value through profit or loss [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Net deferred tax (liabilities)/assets | 0 | 6 | |
Other payables and accruals [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Net deferred tax (liabilities)/assets | 71 | 89 | |
Government Grants [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Net deferred tax (liabilities)/assets | 35 | 42 | |
Sale and lease back transaction [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Net deferred tax (liabilities)/assets | 0 | 6 | |
Loss available for offsetting against future taxable profits [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Deferred tax assets | 66 | ||
Net deferred tax (liabilities)/assets | 66 | ||
Aged payables [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Net deferred tax (liabilities)/assets | 1 | 2 | |
Lease liabilities/Right-of-use assets [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Net deferred tax (liabilities)/assets | (352) | (328) | |
Investments in equity instruments designated at fair value through other comprehensive income [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Net deferred tax (liabilities)/assets | (283) | (278) | |
Cost [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Deferred tax assets | 1,484 | 456 | |
Net deferred tax (liabilities)/assets | 831 | 123 | |
Deferred tax liabilities | (653) | (333) | |
Cost [member] | Provision for lease return costs for aircraft and engines [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Deferred tax assets | 1,075 | ||
Cost [member] | Impairment provision for flight equipment spare parts [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Deferred tax assets | 53 | 126 | |
Cost [member] | Impairment provision for receivables [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Deferred tax assets | 76 | 75 | |
Cost [member] | Impairment provision for property, plant, and equipment [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Deferred tax assets | 101 | 103 | |
Cost [member] | Derivative financial instruments [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Deferred tax assets | 6 | 7 | |
Deferred tax liabilities | (18) | (55) | |
Cost [member] | Assets at fair value through profit or loss [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Deferred tax assets | 6 | ||
Cost [member] | Other payables and accruals [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Deferred tax assets | 71 | 89 | |
Cost [member] | Government Grants [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Deferred tax assets | 35 | 42 | |
Cost [member] | Sale and lease back transaction [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Deferred tax assets | 6 | ||
Cost [member] | Aged payables [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Deferred tax assets | 1 | 2 | |
Cost [member] | Lease liabilities/Right-of-use assets [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Deferred tax liabilities | (352) | 0 | |
Cost [member] | Investments in equity instruments designated at fair value through other comprehensive income [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Deferred tax liabilities | ¥ (283) | ¥ (278) |
Deferred Taxation - Summary o_4
Deferred Taxation - Summary of Movements in Net Deferred Tax (Liabilities)/Assets of the Group (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | ¥ 123 | ¥ (240) | |
(Charged)/ credited to profit or loss | 123 | 294 | ¥ 162 |
Charged to other comprehensive income | 31 | 69 | |
At the end of the year | 831 | 123 | (240) |
IFRS16 [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Effect of adoption of IFRS 16 | 94,416 | ||
Previously Stated [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 123 | ||
At the end of the year | 123 | ||
Currently Stated [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 677 | (240) | |
At the end of the year | 677 | (240) | |
Provision for lease return costs for aircraft and engines [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Charged to other comprehensive income | 193 | ||
At the end of the year | 1,075 | ||
Provision for lease return costs for aircraft and engines [Member] | IFRS16 [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 882 | ||
At the end of the year | 882 | ||
Provision for lease return costs for aircraft and engines [Member] | Currently Stated [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the end of the year | 882 | ||
Impairment provision for flight equipment spare parts [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 126 | ||
(Charged)/ credited to profit or loss | (73) | 75 | |
Charged to other comprehensive income | 0 | ||
At the end of the year | 53 | 126 | |
Impairment provision for flight equipment spare parts [member] | IFRS16 [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Effect of adoption of IFRS 16 | 0 | ||
Impairment provision for flight equipment spare parts [member] | Previously Stated [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 126 | ||
At the end of the year | 126 | ||
Impairment provision for flight equipment spare parts [member] | Currently Stated [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 126 | 51 | |
At the end of the year | 126 | 51 | |
Impairment provision for receivables [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 75 | ||
(Charged)/ credited to profit or loss | 1 | 3 | |
Charged to other comprehensive income | 0 | ||
At the end of the year | 76 | 75 | |
Impairment provision for receivables [member] | IFRS16 [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Effect of adoption of IFRS 16 | 0 | ||
Impairment provision for receivables [member] | Previously Stated [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 75 | ||
At the end of the year | 75 | ||
Impairment provision for receivables [member] | Currently Stated [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 75 | 72 | |
At the end of the year | 75 | 72 | |
Impairment provision for property, plant, and equipment [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 103 | ||
(Charged)/ credited to profit or loss | (2) | (1) | |
Charged to other comprehensive income | 0 | ||
At the end of the year | 101 | 103 | |
Impairment provision for property, plant, and equipment [member] | IFRS16 [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Effect of adoption of IFRS 16 | 0 | ||
Impairment provision for property, plant, and equipment [member] | Previously Stated [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 103 | ||
At the end of the year | 103 | ||
Impairment provision for property, plant, and equipment [member] | Currently Stated [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 103 | 104 | |
At the end of the year | 103 | 104 | |
Derivative financial instruments [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 7 | ||
(Charged)/ credited to profit or loss | 0 | (78) | |
Charged to other comprehensive income | (1) | 3 | |
At the end of the year | 6 | 7 | |
Derivative financial instruments [member] | IFRS16 [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Effect of adoption of IFRS 16 | 0 | ||
Derivative financial instruments [member] | Previously Stated [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 7 | ||
At the end of the year | 7 | ||
Derivative financial instruments [member] | Currently Stated [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 7 | 82 | |
At the end of the year | 7 | 82 | |
Other payables and accruals [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 89 | ||
(Charged)/ credited to profit or loss | (18) | 60 | |
Charged to other comprehensive income | 0 | ||
At the end of the year | 71 | 89 | |
Other payables and accruals [member] | IFRS16 [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Effect of adoption of IFRS 16 | 0 | ||
Other payables and accruals [member] | Previously Stated [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 89 | ||
At the end of the year | 89 | ||
Other payables and accruals [member] | Currently Stated [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 89 | 29 | |
At the end of the year | 89 | 29 | |
Loss to cover [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
(Charged)/ credited to profit or loss | 66 | ||
At the end of the year | 66 | ||
Aged payables [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 2 | ||
(Charged)/ credited to profit or loss | (1) | (3) | |
Charged to other comprehensive income | 0 | ||
At the end of the year | 1 | 2 | |
Aged payables [member] | IFRS16 [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Effect of adoption of IFRS 16 | 0 | ||
Aged payables [member] | Previously Stated [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 2 | ||
At the end of the year | 2 | ||
Aged payables [member] | Currently Stated [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 2 | 5 | |
At the end of the year | 2 | 5 | |
Net deferred tax assets [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 456 | ||
(Charged)/ credited to profit or loss | 147 | 110 | |
Charged to other comprehensive income | (1) | 3 | |
At the end of the year | 1,484 | 456 | |
Net deferred tax assets [member] | IFRS16 [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 882 | ||
At the end of the year | 882 | ||
Net deferred tax assets [member] | Previously Stated [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 456 | ||
At the end of the year | 456 | ||
Net deferred tax assets [member] | Currently Stated [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 1,338 | 343 | |
At the end of the year | 1,338 | 343 | |
Lease liabilities/Right-of-use assets [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | (328) | ||
(Charged)/ credited to profit or loss | (24) | ||
Charged to other comprehensive income | 0 | ||
At the end of the year | (352) | (328) | |
Lease liabilities/Right-of-use assets [member] | IFRS 9 [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | (328) | ||
At the end of the year | (328) | ||
Accumulated depreciation and amortization [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
(Charged)/ credited to profit or loss | 56 | ||
Accumulated depreciation and amortization [member] | Currently Stated [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | (56) | ||
At the end of the year | (56) | ||
Derivative financial instruments [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | (55) | ||
(Charged)/ credited to profit or loss | 0 | ||
Charged to other comprehensive income | 37 | (17) | |
At the end of the year | (18) | (55) | |
Derivative financial instruments [member] | IFRS16 [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Effect of adoption of IFRS 16 | 0 | ||
Derivative financial instruments [member] | Previously Stated [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | (55) | ||
At the end of the year | (55) | ||
Derivative financial instruments [member] | Currently Stated [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | (55) | (38) | |
At the end of the year | (55) | (38) | |
Net deferred tax liabilities [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | (333) | ||
(Charged)/ credited to profit or loss | (24) | 184 | |
Charged to other comprehensive income | 32 | 66 | |
At the end of the year | (653) | (333) | |
Net deferred tax liabilities [member] | IFRS16 [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | (328) | ||
At the end of the year | (328) | ||
Net deferred tax liabilities [member] | Previously Stated [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | (333) | ||
At the end of the year | (333) | ||
Net deferred tax liabilities [member] | Currently Stated [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | (661) | (583) | |
At the end of the year | (661) | (583) | |
Assets at fair value through profit or loss [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 6 | ||
(Charged)/ credited to profit or loss | (6) | 6 | |
Charged to other comprehensive income | 0 | ||
At the end of the year | 0 | 6 | |
Assets at fair value through profit or loss [member] | IFRS16 [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Effect of adoption of IFRS 16 | 0 | ||
Assets at fair value through profit or loss [member] | Previously Stated [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 6 | ||
At the end of the year | 6 | ||
Assets at fair value through profit or loss [member] | Currently Stated [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 6 | ||
At the end of the year | 6 | ||
Government Grants [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 42 | ||
(Charged)/ credited to profit or loss | (7) | 42 | |
Charged to other comprehensive income | 0 | ||
At the end of the year | 35 | 42 | |
Government Grants [member] | IFRS16 [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Effect of adoption of IFRS 16 | 0 | ||
Government Grants [member] | Previously Stated [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 42 | ||
At the end of the year | 42 | ||
Government Grants [member] | Currently Stated [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 42 | ||
At the end of the year | 42 | ||
Sale and lease back transaction [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 6 | ||
(Charged)/ credited to profit or loss | (6) | 6 | |
Charged to other comprehensive income | 0 | ||
At the end of the year | 0 | 6 | |
Sale and lease back transaction [member] | IFRS16 [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Effect of adoption of IFRS 16 | 0 | ||
Sale and lease back transaction [member] | Previously Stated [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 6 | ||
At the end of the year | 6 | ||
Sale and lease back transaction [member] | Currently Stated [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | 6 | ||
At the end of the year | 6 | ||
Investments in equity instruments designated at fair value through other comprehensive income [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | (278) | ||
(Charged)/ credited to profit or loss | 0 | ||
Charged to other comprehensive income | (5) | 83 | |
At the end of the year | (283) | (278) | |
Investments in equity instruments designated at fair value through other comprehensive income [member] | IFRS16 [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
Effect of adoption of IFRS 16 | 0 | ||
Investments in equity instruments designated at fair value through other comprehensive income [member] | Previously Stated [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | (278) | ||
At the end of the year | (278) | ||
Investments in equity instruments designated at fair value through other comprehensive income [member] | Currently Stated [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | ¥ (278) | (361) | |
At the end of the year | (278) | (361) | |
Passenger ticket breakage [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
(Charged)/ credited to profit or loss | 128 | ||
Passenger ticket breakage [member] | Currently Stated [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | |||
At the beginning of the year | ¥ (128) | ||
At the end of the year | ¥ (128) |
Deferred Taxation - Summary o_5
Deferred Taxation - Summary of Movements in Net Deferred Tax (Liabilities)/Assets of the Group (Parenthetical) (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Deferred tax assets and liabilities [abstract] | ||
Deferred Tax Assets Not Recognized | ¥ 12,558 | ¥ 11,360 |
Deferred Taxation - Summary o_6
Deferred Taxation - Summary of Balances for Which Deferred Tax Assets Have Not Been Recognised (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Deferred taxation [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | ||
Tax losses carried forward | ¥ 54 | ¥ 67 |
Other deductible temporary differences | 7 | 27 |
Total unrecognised deferred tax assets | 61 | 94 |
Temporary differences [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [Line items] | ||
Tax losses carried forward | 217 | 267 |
Other deductible temporary differences | 30 | 126 |
Total unrecognised deferred tax assets | ¥ 247 | ¥ 393 |
Flight Equipment Spare Parts -
Flight Equipment Spare Parts - Summary of Flight Equipment Spare Parts (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of inventories [Line Items] | ||
Flight equipment spare parts | ¥ 2,407 | ¥ 1,950 |
Flight equipment spare parts [member] | ||
Disclosure of inventories [Line Items] | ||
Flight equipment spare parts | 2,407 | 1,950 |
Flight equipment spare parts [member] | Cost [member] | ||
Disclosure of inventories [Line Items] | ||
Flight equipment spare parts | 2,732 | 2,778 |
Flight equipment spare parts [member] | Impairment [member] | ||
Disclosure of inventories [Line Items] | ||
Flight equipment spare parts | ¥ (325) | ¥ (828) |
Flight Equipment Spare Parts _2
Flight Equipment Spare Parts - Summary of Movements in Provision for Impairment of Flight Equipment Spare Parts (Detail) - Provision written off in relation to disposal of spare parts [member] - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of inventories [Line Items] | ||
Beginning balance | ¥ 828 | ¥ 531 |
Accrual (note 8) | 0 | 301 |
Amount written off in relation to disposal of spare parts | (503) | (4) |
Ending balance | ¥ 325 | ¥ 828 |
Trade and Notes Receivables - S
Trade and Notes Receivables - Summary of Trade and Notes Receivables (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Trade and other current receivables [abstract] | ||
Trade receivables | ¥ 1,793 | ¥ 1,525 |
Notes receivable | 0 | 4 |
Current trade and notes receivables | 1,793 | 1,529 |
Impairment | (76) | (93) |
Trade and notes receivables | ¥ 1,717 | ¥ 1,436 |
Trade and Notes Receivables -_2
Trade and Notes Receivables - Summary of Ageing Analysis of Trade and Notes Receivables (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [Line Items] | ||
Trade and notes receivables | ¥ 1,717 | ¥ 1,436 |
Within 90 days [member] | ||
Disclosure of financial assets [Line Items] | ||
Trade and notes receivables | 1,615 | 1,354 |
91 to 180 days [member] | ||
Disclosure of financial assets [Line Items] | ||
Trade and notes receivables | 33 | 52 |
181 to 365 days [member] | ||
Disclosure of financial assets [Line Items] | ||
Trade and notes receivables | 39 | 11 |
Over 365 days [member] | ||
Disclosure of financial assets [Line Items] | ||
Trade and notes receivables | ¥ 30 | ¥ 15 |
Trade and Notes Receivables -_3
Trade and Notes Receivables - Summary of Provision for Impairment of Trade Receivables (Detail) - Trade and notes receivables [member] - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of financial assets [Line Items] | ||
At beginning of year | ¥ 93 | ¥ 119 |
Impairment losses, net (note 10) | (6) | (21) |
Amount written off as uncollectible | (4) | (5) |
Disposal of a subsidiary | (7) | |
At end of year | ¥ 76 | ¥ 93 |
Trade and Notes Receivables -_4
Trade and Notes Receivables - Schedule of Credit Risk Exposure on Group's Trade Receivables (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Gross carrying amount (RMB million) | ¥ 1,793 | ¥ 1,525 |
Cost [member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Gross carrying amount (RMB million) | ¥ 1,793 | ¥ 1,525 |
IFRS 9 [member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Expected credit loss rate (%) | 4.24% | 6.10% |
Expected credit losses (RMB million) | ¥ 76 | ¥ 93 |
IFRS 9 [member] | Within 90 days [member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Expected credit loss rate (%) | 2.94% | 0.78% |
Expected credit losses (RMB million) | ¥ 1 | ¥ 1 |
IFRS 9 [member] | Current [member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Expected credit loss rate (%) | 0.12% | 0.57% |
Expected credit losses (RMB million) | ¥ 2 | ¥ 7 |
IFRS 9 [member] | 181 to 365 Days [Member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Expected credit loss rate (%) | 2.50% | 1.59% |
Expected credit losses (RMB million) | ¥ 1 | ¥ 1 |
IFRS 9 [member] | Over 365 days [member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Expected credit loss rate (%) | 70.59% | 83.17% |
Expected credit losses (RMB million) | ¥ 72 | ¥ 84 |
IFRS 9 [member] | Cost [member] | Within 90 days [member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Gross carrying amount (RMB million) | 34 | 129 |
IFRS 9 [member] | Cost [member] | Current [member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Gross carrying amount (RMB million) | 1,617 | 1,232 |
IFRS 9 [member] | Cost [member] | 181 to 365 Days [Member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Gross carrying amount (RMB million) | 40 | 63 |
IFRS 9 [member] | Cost [member] | Over 365 days [member] | ||
Disclosure of financial assets that are either past due or impaired [Line Items] | ||
Gross carrying amount (RMB million) | ¥ 102 | ¥ 101 |
Financial Asset at Fair Value_3
Financial Asset at Fair Value Through Profit or Loss - Summary of Financial Assets at Fair Value Through Profit or Loss (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Shanghai Pudong Development Bank Co., Ltd. [member] | ||
Disclosure of financial assets [Line Items] | ||
Available-for-sale investments | ¥ 121 | ¥ 96 |
Prepayments and Other Receiva_3
Prepayments and Other Receivables - Summary of Prepayments and Other Receivables (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [Line Items] | ||
Value added tax recoverable | ¥ 188 | ¥ 240 |
Refundable advanced payment on acquisition of aircraft | 538 | |
Prepayments and other receivables | 14,093 | 11,776 |
Cost [member] | ||
Disclosure of financial assets [Line Items] | ||
Value added tax recoverable | 6,991 | 5,484 |
Value added tax refundable | 800 | 979 |
Subsidy receivable | 2,072 | 2,092 |
Prepaid corporate income tax | 608 | 306 |
Advance to suppliers | 129 | 222 |
Prepaid aircraft operating lease rentals | 478 | |
Rebate receivables on aircraft acquisitions | 1,582 | 1,399 |
Amounts due from related parties (note 49(c)(i)) | 776 | 278 |
Deposits relating to aircraft held under leases | 29 | 13 |
Other deposits | 168 | 194 |
Others | 663 | 577 |
Prepayments and other receivables | 14,356 | 12,022 |
Impairment [member] | ||
Disclosure of financial assets [Line Items] | ||
Prepayments and other receivables | ¥ (263) | ¥ (246) |
Prepayments and Other Receiva_4
Prepayments and Other Receivables - Schedule of Movements of Loss Allowances Measured at 12-month and Lifetime Expected Credit Losses for Financial Assets Included in Other Receivables (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Beginning balance | ¥ 6,679 | |
Ending balance | 16,429 | ¥ 6,679 |
Accumulated depreciation, amortisation and impairment [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Beginning balance | 246 | 198 |
Accrual | 22 | 49 |
Disposal of a subsidiary | (5) | |
Reversal | (1) | |
Ending balance | 263 | 246 |
Cost [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Beginning balance | 2,977 | 2,541 |
Accrual | 801 | 441 |
Reversal | (43) | (5) |
Ending balance | 3,735 | 2,977 |
12-month expected credit losses [member] | Accumulated depreciation, amortisation and impairment [member] | Stage One [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Beginning balance | 16 | 4 |
Transferred - to stage 2 | (1) | (1) |
Accrual | 18 | 13 |
Disposal of a subsidiary | 0 | |
Ending balance | 33 | 16 |
12-month expected credit losses [member] | Cost [member] | Stage One [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Beginning balance | 2,298 | 2,394 |
Transferred - to stage 2 | (160) | (399) |
Accrual | 1,066 | 303 |
Reversal | (26) | |
Ending balance | 3,178 | 2,298 |
Lifetime expected credit losses [member] | Accumulated depreciation, amortisation and impairment [member] | Stage three [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Beginning balance | 122 | 122 |
Ending balance | 122 | 122 |
Lifetime expected credit losses [member] | Accumulated depreciation, amortisation and impairment [member] | Expected credit losses collectively assessed [member] | Stage Two [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Beginning balance | 108 | 72 |
Transferred - to stage 2 | 1 | 1 |
Accrual | 4 | 36 |
Disposal of a subsidiary | (5) | |
Reversal | (1) | |
Ending balance | 108 | 108 |
Lifetime expected credit losses [member] | Cost [member] | Stage three [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Beginning balance | 122 | 122 |
Ending balance | 122 | 122 |
Lifetime expected credit losses [member] | Cost [member] | Expected credit losses individually assessed [member] | Stage Two [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Beginning balance | 298 | |
Transferred - to stage 2 | 160 | 298 |
Ending balance | 458 | 298 |
Lifetime expected credit losses [member] | Cost [member] | Expected credit losses collectively assessed [member] | Stage Two [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Beginning balance | 259 | 25 |
Transferred - to stage 2 | 101 | |
Accrual | (265) | 138 |
Reversal | (17) | (5) |
Ending balance | ¥ (23) | ¥ 259 |
Restricted Bank Deposits and _3
Restricted Bank Deposits and Short-term Bank Deposits - Summary of Restricted Bank Deposits and Short-term Bank Deposits (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Restricted bank deposits | ¥ 6 | ¥ 16 |
Cash and Cash Equivalents - Sum
Cash and Cash Equivalents - Summary of Cash and Cash Equivalents (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Cash and cash equivalents [abstract] | ||
Cash | ¥ 1 | ¥ 1 |
Bank balances | 1,349 | 645 |
Cash and cash equivalents | ¥ 1,350 | ¥ 646 |
Cash and Cash Equivalents - Add
Cash and Cash Equivalents - Additional Information (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about financial instruments [Line Items] | ||
Cash and bank balances | ¥ 1,350 | ¥ 646 |
RMB [member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Cash and bank balances | ¥ 547 | ¥ 330 |
Assets Classified as Held for_2
Assets Classified as Held for Sale - Additional Information (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
China Aviation Supplies Co Ltd [Member] | ||
Disclosure of assets held for sale [line items] | ||
Assets classified as held for sale | ¥ 6 | ¥ 11 |
Trade and Bills Payables - Summ
Trade and Bills Payables - Summary of Aged Analysis of Trade and Bills Payables (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial liabilities [Line Items] | ||
Trade and bills payable | ¥ 3,877 | ¥ 4,040 |
Within 90 days [member] | ||
Disclosure of financial liabilities [Line Items] | ||
Trade and bills payable | 3,622 | 3,594 |
91 to 180 days [member] | ||
Disclosure of financial liabilities [Line Items] | ||
Trade and bills payable | 52 | 49 |
181 to 365 days [member] | ||
Disclosure of financial liabilities [Line Items] | ||
Trade and bills payable | 94 | 157 |
1 to 2 years [member] | ||
Disclosure of financial liabilities [Line Items] | ||
Trade and bills payable | 40 | 100 |
Over 2 years [member] | ||
Disclosure of financial liabilities [Line Items] | ||
Trade and bills payable | ¥ 69 | ¥ 140 |
Trade and Bills Payable - Addit
Trade and Bills Payable - Additional Information (Detail) ¥ in Millions | Dec. 31, 2018CNY (¥) |
Trade and other payables [abstract] | |
Bills payable | ¥ 4 |
Contract Liabilities - Summary
Contract Liabilities - Summary Of Contract liabilities (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Contract liabilities [abstract] | ||
Sales in advance of carriage | ¥ 8,754 | ¥ 7,638 |
Frequent flyer program | 2,057 | 2,046 |
Advance from customers | 866 | 712 |
Contract liabilities | 11,677 | 10,396 |
Current portion | 10,178 | 8,811 |
Non-current portion | ¥ 1,499 | ¥ 1,585 |
Other Payables and Accruals - S
Other Payables and Accruals - Summary of Other Payables and Accruals (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Trade and other payables [abstract] | ||
Salaries, wages and benefits | ¥ 2,794 | ¥ 2,854 |
Take-off and landing charges | 3,052 | 2,828 |
Fuel cost | 1,109 | 1,225 |
Expenses related to aircraft overhaul conducted | 1,810 | 1,324 |
Deposits from customers | 18 | 6 |
Duties and levies payable | 1,983 | 1,792 |
Food and beverages | 253 | 349 |
Payments on system services | 879 | 650 |
Lease rentals of property, plant and equipment | 515 | 411 |
Other accrued operating expenses | 991 | 701 |
Payable for purchase of property, plant and equipment | 3,454 | 2,783 |
Interest payable | 1,249 | 1,189 |
Pending output value added tax | 412 | 378 |
Deposits received from ticket sales agents | 507 | 502 |
Other deposits | 570 | 576 |
Current portion of other long-term liabilities (note 42) | 294 | 234 |
Staff housing allowance | 224 | 265 |
Amounts due to related parties (note 49(c)(ii)) | 383 | 1,093 |
Current portion of post-retirement benefit obligations (note 41(b)) | 165 | 168 |
Others | 1,940 | 1,815 |
Other payables and accruals | ¥ 22,602 | ¥ 21,143 |
Obligations Under Finance Lea_3
Obligations Under Finance Leases - Additional Information (Detail) | Dec. 31, 2018Aircraft |
Aircraft [member] | Finance Lease [Member] | |
Disclosure of finance lease and operating lease by lessee [Line items] | |
Number of aircrafts | 260 |
Obligations Under Finance Lea_4
Obligations Under Finance Leases - Summary of Future Minimum Lease Payments (Including Interest), and Present Value of Minimum Lease Payments Under Finance Leases (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of finance lease and operating lease by lessee [Line items] | ||
Minimum lease payments | ¥ 90,980 | |
Present values of minimum lease payments | ¥ 79,006 | |
Minimum lease payments, Less: amount repayable within one year | (9,364) | |
Minimum lease payments, non-current portion | 68,063 | |
Less than 1 year [member] | ||
Disclosure of finance lease and operating lease by lessee [Line items] | ||
Minimum lease payments | 11,974 | |
1 to 2 years [member] | ||
Disclosure of finance lease and operating lease by lessee [Line items] | ||
Minimum lease payments | 12,014 | |
In the third to fifth years, inclusive [member] | ||
Disclosure of finance lease and operating lease by lessee [Line items] | ||
Minimum lease payments | 30,018 | |
Over 5 years [member] | ||
Disclosure of finance lease and operating lease by lessee [Line items] | ||
Minimum lease payments | ¥ 36,974 |
Borrowings - Summary of Borrowi
Borrowings - Summary of Borrowings (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about borrowings [line items] | ||
Long-term bank borrowings - secured | ¥ 2,995 | ¥ 3,934 |
Long-term bank borrowings - unsecured | 828 | 4,556 |
Guaranteed bonds | 12,784 | 13,377 |
Unsecured bonds | 9,997 | 4,000 |
Total non-current borrowings | 26,604 | 25,867 |
Current portion of long-term bank borrowings - secured | 939 | 997 |
Current portion of long-term bank borrowings - unsecured | 1,009 | 76 |
Current portion of guaranteed bonds (note (b)) | 2,585 | 732 |
Current portion of unsecured bonds (note (b)) | 0 | 4,834 |
Short-term bank borrowings - unsecured | 2,200 | 8,120 |
Short-term debentures | 18,500 | 14,500 |
Current portion of long-term bank borrowings | 25,233 | 29,259 |
Total borrowings | 51,837 | 55,126 |
Total borrowings | 51,837 | 55,126 |
Less than 1 year [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total borrowings | 25,233 | 29,259 |
Total borrowings | 25,233 | 29,259 |
1 to 2 years [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total borrowings | 8,104 | 7,469 |
Total borrowings | 8,104 | 7,469 |
In the third to fifth years, inclusive [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total borrowings | 14,821 | 14,258 |
Total borrowings | 14,821 | 14,258 |
Over 5 years [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total borrowings | 3,679 | 4,140 |
Total borrowings | ¥ 3,679 | ¥ 4,140 |
Borrowings - Summary of Borro_2
Borrowings - Summary of Borrowings (Parenthetical) (Detail) ¥ in Millions, $ in Millions, ₩ in Billions, ¥ in Billions | Mar. 18, 2023CNY (¥) | Dec. 06, 2019KRW (₩) | Nov. 26, 2019CNY (¥) | Nov. 15, 2019CNY (¥) | Oct. 25, 2019CNY (¥) | Aug. 19, 2019CNY (¥) | Jul. 03, 2019CNY (¥) | Jun. 13, 2019CNY (¥) | May 29, 2019CNY (¥) | Mar. 07, 2019CNY (¥) | Mar. 16, 2018JPY (¥) | Nov. 16, 2017SGD ($) | Oct. 24, 2016CNY (¥) | Jul. 14, 2016CNY (¥) | Dec. 31, 2019CNY (¥) | Dec. 09, 2019CNY (¥) | Dec. 31, 2018CNY (¥) |
Disclosure of detailed information about borrowings [line items] | |||||||||||||||||
Carrying amount of related aircraft and buildings pledged as security | ¥ 7,243 | ¥ 8,391 | |||||||||||||||
Guaranteed bonds [member] | |||||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||||
Term of borrowing | ten-year | ||||||||||||||||
Principal amount of borrowing | ¥ 4.8 | ||||||||||||||||
Interest rate of borrowing | 5.05% | ||||||||||||||||
Medium-term bonds [member] | |||||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||||
Term of borrowing | three-year | five-year | |||||||||||||||
Principal amount of borrowing | ¥ 3 | ¥ 4 | |||||||||||||||
Interest rate of borrowing | 3.70% | 3.39% | |||||||||||||||
Corporate bonds [member] | |||||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||||
Term of borrowing | three-year | five-year | three-year | ten-year | |||||||||||||
Principal amount of borrowing | ₩ 300 | ¥ 3,000 | $ 500 | ¥ 3,000 | |||||||||||||
Interest rate of borrowing | 2.40% | 3.60% | 2.80% | ||||||||||||||
Corporate bonds one [member] | |||||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||||
Principal amount of borrowing | ¥ 1,500 | ||||||||||||||||
Interest rate of borrowing | 3.03% | ||||||||||||||||
Corporate bonds two [member] | |||||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||||
Principal amount of borrowing | ¥ 1,500 | ||||||||||||||||
Interest rate of borrowing | 3.30% | ||||||||||||||||
Short-term debentures [member] | |||||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||||
Term of borrowing | 177 days | 270 days | 179 days | 267 days | 266 days | 267 days | |||||||||||
Principal amount of borrowing | ¥ 2 | ¥ 3 | ¥ 3 | ¥ 3 | ¥ 3 | ¥ 2 | ¥ 2,500 | ||||||||||
Interest rate of borrowing | 1.70% | 2.00% | 2.00% | 2.98% | 3.15% | 3.10% | 2.00% | ||||||||||
First series of JPY- denominated credit enhanced bonds [member] | |||||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||||
Term of borrowing | three-year | ||||||||||||||||
Principal amount of borrowing | ¥ 10 | ||||||||||||||||
Interest rate of borrowing | 0.33% | ||||||||||||||||
Second series of JPY- denominated credit enhanced bonds [member] | |||||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||||
Term of borrowing | three-year | ||||||||||||||||
Principal amount of borrowing | ¥ 20 | ||||||||||||||||
Interest rate of borrowing | 0.64% | ||||||||||||||||
Third series of JPY- denominated credit enhanced bonds [member] | |||||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||||
Term of borrowing | three-year | ||||||||||||||||
Principal amount of borrowing | ¥ 20 | ||||||||||||||||
Interest rate of borrowing | 0.64% |
Borrowings - Summary of Long-te
Borrowings - Summary of Long-term Borrowings and Bonds (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about borrowings [line items] | ||
Long-term borrowings | ¥ 31,137 | ¥ 32,506 |
Long-term bank borrowings [member] | RMB [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Long-term borrowings | 1,828 | 4,528 |
Long-term bank borrowings [member] | USD [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Long-term borrowings | 870 | 1,469 |
Long-term bank borrowings [member] | EUR [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Long-term borrowings | 3,073 | 3,566 |
Guaranteed bonds [member] | RMB [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Long-term borrowings | 7,796 | 7,795 |
Guaranteed bonds [member] | SGD [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Long-term borrowings | 2,585 | 2,498 |
Guaranteed bonds [member] | JPY [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Long-term borrowings | 3,197 | 3,084 |
Guaranteed bonds [member] | KRW [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Long-term borrowings | 1,791 | 732 |
Unsecured bonds [member] | RMB [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Long-term borrowings | 9,997 | 8,500 |
Unsecured bonds [member] | KRW [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Long-term borrowings | ¥ 0 | ¥ 334 |
Borrowings - Summary of Long-_2
Borrowings - Summary of Long-term Borrowings and Bonds (Parenthetical) (Detail) | Mar. 18, 2023 | Dec. 31, 2019 | Dec. 31, 2018 |
Long-term bank borrowings [member] | Bottom of range [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings interest rate | 3.92% | 3.48% | |
Long-term bank borrowings [member] | Top of range [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings interest rate | 2.65% | 3.10% | |
Long-term bank borrowings [member] | RMB [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings interest rate | 2024 | ||
Long-term bank borrowings [member] | USD [member] | Bottom of range [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings interest rate basis | 6-month libor +0.55% | 6-month libor +0.55% | |
Borrowings interest rate | 0.70% | 0.55% | |
Long-term bank borrowings [member] | USD [member] | Top of range [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings interest rate basis | 6-month libor +2.85% | 6-month libor +2.85% | |
Borrowings interest rate | 1.65% | 2.85% | |
Long-term bank borrowings [member] | EUR [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings interest rate basis | 3 months Euribor+0.5% | 3 months Euribor+0.5% | |
Borrowings interest rate basis adjustment | 0.50% | 0.50% | |
Borrowings interest rate | 2026 | ||
Guaranteed bonds [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings interest rate | 5.05% | ||
Borrowings interest rate | ten-year | ||
Guaranteed bonds [member] | RMB [member] | Bottom of range [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings interest rate | 3.03% | 3.03% | |
Guaranteed bonds [member] | RMB [member] | Top of range [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings interest rate | 5.05% | 5.05% | |
Guaranteed bonds [member] | SGD [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings interest rate | 2.80% | ||
Borrowings interest rate | 2020 | ||
Guaranteed bonds [member] | JPY [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings interest rate | 2021 | ||
Guaranteed bonds [member] | JPY [Member] | Bottom of range [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings interest rate | 0.33% | 0.33% | |
Guaranteed bonds [member] | JPY [Member] | Top of range [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings interest rate | 0.64% | 0.64% | |
Guaranteed bonds [member] | KRW [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings interest rate | 2.40% | 2.05% | |
Borrowings interest rate | 2022 | ||
Unsecured bonds [member] | RMB [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings interest rate | 2024 | ||
Unsecured bonds [member] | RMB [member] | Bottom of range [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings interest rate | 3.39% | 3.00% | |
Unsecured bonds [member] | RMB [member] | Top of range [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings interest rate | 3.70% | 3.39% | |
Unsecured bonds [member] | KRW [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings interest rate | 2.85% | 2.85% | |
Borrowings interest rate | 2019 |
Borrowings - Additional Informa
Borrowings - Additional Information (Detail) - Short-term borrowings [member] | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about borrowings [line items] | ||
Borrowings interest rate | 3.30% | |
Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings interest rate | 2.97% | |
Top of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings interest rate | 4.48% |
Provision For Lease Return Co_3
Provision For Lease Return Costs For Aircraft And Engines - Summary of Provision for Return Condition Checks for Aircraft Under Operating Leases (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of provision for return condition checks for aircraft under operating leases [Line Items] | ||
Beginning balance | ¥ 2,906 | ¥ 3,019 |
Accrual | 702 | 402 |
Utilization | (84) | (515) |
Ending balance | 7,178 | 2,906 |
Less: current portion | (519) | (145) |
Non-current portion | 6,659 | 2,761 |
Increase (decrease) due to application of IFRS 16 [member] | ||
Disclosure of provision for return condition checks for aircraft under operating leases [Line Items] | ||
Effect of adoption IFRS16 | 3,654 | 0 |
Previously stated [member] | ||
Disclosure of provision for return condition checks for aircraft under operating leases [Line Items] | ||
Beginning balance | ¥ 2,906 | 3,019 |
Ending balance | ¥ 2,906 |
Post-Retirement Benefit Oblig_3
Post-Retirement Benefit Obligations - Summary of Post-retirement Benefit Obligations Recognized in Consolidated Statement of Financial Position (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of defined benefit plans [abstract] | ||
Post-retirement benefit obligations | ¥ 2,584 | ¥ 2,712 |
Less: current portion | 165 | 168 |
Non-current portion | ¥ 2,419 | ¥ 2,544 |
Post-Retirement Benefit Oblig_4
Post-Retirement Benefit Obligations - Summary of Principal Actuarial Assumptions Utilized (Detail) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of defined benefit plans [abstract] | ||
Discount rates for post-retirement benefits | 3.40% | 3.50% |
Mortality rate | China Insurance Life Mortality Table (2010-2013). CL5 for Male and CL6 for Female | China Insurance Life Mortality Table (2010-2013). CL5 for Male and CL6 for Female |
Annual increase rate of post-retirement medical expenses | 6.50% | 6.50% |
Inflation rate of pension benefits | 2.50% | 2.50% |
Post-Retirement Benefit Oblig_5
Post-Retirement Benefit Obligations - Summary of Quantitative Sensitivity Analysis for Significant Assumptions (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Discount rate for post-retirement benefits [member] | ||
Disclosure of sensitivity analysis for actuarial assumptions [Line items] | ||
Increase in rate % | 0.25% | 0.25% |
Increase/ (decrease) in post-retirement benefit obligations | ¥ (74) | ¥ (80) |
Decrease in rate % | 0.25% | 0.25% |
Increase/ (decrease) in post-retirement benefit obligations | ¥ 77 | ¥ 84 |
Annual increase rate of pension benefits [member] | ||
Disclosure of sensitivity analysis for actuarial assumptions [Line items] | ||
Increase in rate % | 1.00% | 1.00% |
Increase/ (decrease) in post-retirement benefit obligations | ¥ 260 | ¥ 288 |
Decrease in rate % | 1.00% | 1.00% |
Increase/ (decrease) in post-retirement benefit obligations | ¥ (222) | ¥ (244) |
Annual increase rate of medical expenses [member] | ||
Disclosure of sensitivity analysis for actuarial assumptions [Line items] | ||
Increase in rate % | 1.00% | 1.00% |
Increase/ (decrease) in post-retirement benefit obligations | ¥ 36 | ¥ 41 |
Decrease in rate % | 1.00% | 1.00% |
Increase/ (decrease) in post-retirement benefit obligations | ¥ (30) | ¥ (34) |
Post-Retirement Benefit Oblig_6
Post-Retirement Benefit Obligations - Summary of Expected Contributions of Post-retirement Benefit Obligations (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of defined benefit plans [Line Items] | ||
Expected payments | ¥ 4,169 | ¥ 4,489 |
Less than 1 year [member] | ||
Disclosure of defined benefit plans [Line Items] | ||
Expected payments | 165 | 168 |
2 to 5 years [member] | ||
Disclosure of defined benefit plans [Line Items] | ||
Expected payments | 661 | 678 |
Between 6 and 10 years [member] | ||
Disclosure of defined benefit plans [Line Items] | ||
Expected payments | 809 | 841 |
Over 10 years [member] | ||
Disclosure of defined benefit plans [Line Items] | ||
Expected payments | ¥ 2,534 | ¥ 2,802 |
Post-Retirement Benefit Oblig_7
Post-Retirement Benefit Obligations - Additional Information (Detail) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of defined benefit plans [abstract] | ||
Average duration of the post-retirement benefit obligations | 13 years | 13 years |
Post-Retirement Benefit Oblig_8
Post-Retirement Benefit Obligations - Summary of Movements in Post-retirement Benefit Obligations (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of movements in defined benefit liability [abstract] | |||
Beginning balance | ¥ 2,712 | ¥ 2,670 | |
Pension cost charged to profit or loss, Net interest | 92 | 106 | ¥ 98 |
Pension cost charged to profit or loss, Sub-total included in profit or loss | 92 | 106 | |
Remeasurement (gains)/losses in other comprehensive income, Actuarial changes arising from changes in financial assumptions | 30 | 184 | |
Remeasurement (gains)/losses in other comprehensive income, Actuarial changes arising from changes in demographic assumptions | (70) | (69) | |
Remeasurement (gains)/losses in other comprehensive income, Sub-total included in other comprehensive income | (40) | 115 | |
Benefit settled | (180) | (179) | |
Ending balance | ¥ 2,584 | ¥ 2,712 | ¥ 2,670 |
Other Long-term Liabilities - S
Other Long-term Liabilities - Summary of Other Long-term Liabilities (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Long-term duties and levies payable relating to leases | ¥ 1,487 | ¥ 1,398 |
Deferred gains in sale and leaseback transactions | 0 | 1,115 |
Deferred gains relating to government grants | 152 | 179 |
Provision for early retirement benefit obligations and other benefit obligations | 295 | 324 |
Other long-term payables | 638 | 666 |
Other long-term liabilities | 2,572 | 3,682 |
Less: current portion included in other payables and accruals (note 37) | (294) | (234) |
Non-current portion | ¥ 2,278 | ¥ 3,448 |
Share Capital - Summary of Shar
Share Capital - Summary of Share Capital (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of classes of share capital [Line items] | ||
Share capital | ¥ 16,379 | ¥ 14,467 |
A shares [member] | ||
Disclosure of classes of share capital [Line items] | ||
Share capital | 11,202 | 9,808 |
A shares [member] | Tradable shares with trading moratorium [member] | ||
Disclosure of classes of share capital [Line items] | ||
Share capital | 1,394 | 0 |
A shares [member] | Tradable shares without trading moratorium [member] | ||
Disclosure of classes of share capital [Line items] | ||
Share capital | 9,808 | 9,808 |
H shares [member] | ||
Disclosure of classes of share capital [Line items] | ||
Share capital | 5,177 | 4,659 |
H shares [member] | Tradable shares with trading moratorium [member] | ||
Disclosure of classes of share capital [Line items] | ||
Share capital | 518 | 0 |
H shares [member] | Tradable shares without trading moratorium [member] | ||
Disclosure of classes of share capital [Line items] | ||
Share capital | ¥ 4,659 | ¥ 4,659 |
Share Capital - Summary of Sh_2
Share Capital - Summary of Share Capital (Parenthetical) (Detail) | Dec. 31, 2019¥ / shares |
Disclosure of classes of share capital [abstract] | |
Par value per share | ¥ 1 |
Share Capital - Summary of Move
Share Capital - Summary of Movements in Share Capital (Detail) shares in Millions | 12 Months Ended |
Dec. 31, 2019shares | |
Disclosure of classes of share capital [abstract] | |
Beginning balance | 14,467 |
Issue of shares (Note(a)) | 1,912 |
Ending balance | 16,379 |
Share Capital - Summary of Mo_2
Share Capital - Summary of Movements in Share Capital (Parenthetical) (Detail) - CNY (¥) ¥ in Millions, shares in Millions | Aug. 30, 2019 | Aug. 29, 2019 | Dec. 31, 2019 |
Disclosure of classes of share capital [Line items] | |||
Proceeds from issue of shares | ¥ 9,442 | ||
A shares [member] | Shanghai Juneyao Airlines Co., Ltd [member] | |||
Disclosure of classes of share capital [Line items] | |||
Number Of Shares Issued | 1,394 | ||
Proceeds from issue of shares | ¥ 7,440 | ||
H shares [member] | Shanghai Juneyao Airlines Hong Kong Co.,Ltd [member] | |||
Disclosure of classes of share capital [Line items] | |||
Number Of Shares Issued | 518 | ||
Proceeds from issue of shares | ¥ 2,002 |
Reserves - Summary of Reserves
Reserves - Summary of Reserves (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of reserves within equity [Line Items] | |||
Beginning balance | ¥ 61,601 | ¥ 58,778 | ¥ 52,366 |
Unrealized gains on cash flow hedges (Note 24) | (110) | 43 | 35 |
Fair value changes of available-for-sale investments held by an associate | 7 | (24) | |
Actuarial gains (losses) on post-retirement benefit obligations | 40 | (115) | 124 |
Profit for the year | 3,480 | 2,930 | 6,810 |
Issue of shares | 9,442 | ||
Ending balance | 72,646 | 61,601 | 58,778 |
Share premium [member] | |||
Disclosure of reserves within equity [Line Items] | |||
Beginning balance | 29,540 | 29,540 | |
Unrealized gains on cash flow hedges (Note 24) | 0 | ||
Fair value movements in equity investments designated at fair value through other comprehensive income | 0 | ||
Fair value changes of available-for-sale investments held by an associate | 0 | ||
Actuarial gains (losses) on post-retirement benefit obligations | 0 | ||
Transfer from retained profits | 0 | ||
Profit for the year | 0 | ||
Final dividend | 0 | ||
Issue of shares | 7,530 | ||
Ending balance | 37,070 | 29,540 | 29,540 |
Share premium [member] | Previously stated [member] | |||
Disclosure of reserves within equity [Line Items] | |||
Beginning balance | 29,540 | ||
Ending balance | 29,540 | ||
Capital reserve [member] | |||
Disclosure of reserves within equity [Line Items] | |||
Beginning balance | (778) | (778) | |
Unrealized gains on cash flow hedges (Note 24) | 0 | ||
Fair value movements in equity investments designated at fair value through other comprehensive income | 0 | ||
Fair value changes of available-for-sale investments held by an associate | 0 | ||
Actuarial gains (losses) on post-retirement benefit obligations | 0 | ||
Transfer from retained profits | 0 | ||
Profit for the year | 0 | ||
Final dividend | 0 | ||
Issue of shares | 0 | ||
Others | 11 | ||
Ending balance | (767) | (778) | (778) |
Capital reserve [member] | Previously stated [member] | |||
Disclosure of reserves within equity [Line Items] | |||
Beginning balance | (778) | ||
Ending balance | (778) | ||
Hedging reserve [member] | |||
Disclosure of reserves within equity [Line Items] | |||
Beginning balance | 134 | 91 | |
Unrealized gains on cash flow hedges (Note 24) | (110) | 43 | |
Fair value movements in equity investments designated at fair value through other comprehensive income | 0 | ||
Fair value changes of available-for-sale investments held by an associate | 0 | ||
Actuarial gains (losses) on post-retirement benefit obligations | 0 | ||
Transfer from retained profits | 0 | ||
Profit for the year | 0 | ||
Final dividend | 0 | ||
Ending balance | 24 | 134 | 91 |
Hedging reserve [member] | Previously stated [member] | |||
Disclosure of reserves within equity [Line Items] | |||
Beginning balance | 134 | ||
Ending balance | 134 | ||
Statutory reserve [member] | |||
Disclosure of reserves within equity [Line Items] | |||
Beginning balance | 570 | 540 | |
Unrealized gains on cash flow hedges (Note 24) | 0 | ||
Fair value movements in equity investments designated at fair value through other comprehensive income | 0 | ||
Fair value changes of available-for-sale investments held by an associate | 0 | ||
Actuarial gains (losses) on post-retirement benefit obligations | 0 | ||
Transfer from retained profits | 212 | 30 | |
Profit for the year | 0 | ||
Final dividend | 0 | ||
Ending balance | 782 | 570 | 540 |
Statutory reserve [member] | Previously stated [member] | |||
Disclosure of reserves within equity [Line Items] | |||
Beginning balance | 570 | ||
Ending balance | 570 | ||
Other reserves [member] | |||
Disclosure of reserves within equity [Line Items] | |||
Beginning balance | (2,421) | (2,038) | |
Unrealized gains on cash flow hedges (Note 24) | 0 | ||
Fair value movements in equity investments designated at fair value through other comprehensive income | 13 | (248) | |
Fair value changes of available-for-sale investments held by an associate | 7 | (24) | |
Actuarial gains (losses) on post-retirement benefit obligations | 39 | (111) | |
Transfer from retained profits | 0 | ||
Profit for the year | 0 | ||
Final dividend | 0 | ||
Ending balance | (2,362) | (2,421) | (2,038) |
Other reserves [member] | Previously stated [member] | |||
Disclosure of reserves within equity [Line Items] | |||
Beginning balance | (2,421) | ||
Ending balance | (2,421) | ||
Retained Profits [member] | |||
Disclosure of reserves within equity [Line Items] | |||
Beginning balance | 16,496 | 14,205 | 8,784 |
Unrealized gains on cash flow hedges (Note 24) | 0 | ||
Fair value movements in equity investments designated at fair value through other comprehensive income | 0 | ||
Fair value changes of available-for-sale investments held by an associate | 0 | ||
Actuarial gains (losses) on post-retirement benefit obligations | 0 | ||
Transfer from retained profits | (212) | (30) | |
Profit for the year | 3,192 | 2,698 | 6,342 |
Final dividend | 0 | (738) | |
Others | 1 | ||
Ending balance | 17,882 | 16,496 | 14,205 |
Retained Profits [member] | Previously stated [member] | |||
Disclosure of reserves within equity [Line Items] | |||
Beginning balance | 16,496 | ||
Ending balance | 16,496 | ||
Retained Profits [member] | Increase (decrease) due to application of IFRS 16 [member] | |||
Disclosure of reserves within equity [Line Items] | |||
Effect of adoption of IFRS | (1,595) | ||
Retained earnings and other reserves [member] | |||
Disclosure of reserves within equity [Line Items] | |||
Beginning balance | 41,946 | 41,921 | |
Unrealized gains on cash flow hedges (Note 24) | (110) | 43 | |
Fair value movements in equity investments designated at fair value through other comprehensive income | 13 | (248) | |
Fair value changes of available-for-sale investments held by an associate | 7 | (24) | |
Actuarial gains (losses) on post-retirement benefit obligations | 39 | (111) | |
Transfer from retained profits | 0 | ||
Profit for the year | 3,192 | 2,698 | |
Final dividend | (738) | ||
Issue of shares | 7,530 | ||
Others | 12 | ||
Ending balance | 52,629 | 41,946 | ¥ 41,921 |
Retained earnings and other reserves [member] | Previously stated [member] | |||
Disclosure of reserves within equity [Line Items] | |||
Beginning balance | 43,541 | ||
Ending balance | ¥ 43,541 | ||
Retained earnings and other reserves [member] | Increase (decrease) due to application of IFRS 16 [member] | |||
Disclosure of reserves within equity [Line Items] | |||
Effect of adoption of IFRS | ¥ (1,595) |
Partly-owned Subsidiaries wit_3
Partly-owned Subsidiaries with Material Non-controlling Interests - Summary of Subsidiaries that have Material Non-controlling Interests (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of subsidiaries [Line Items] | |||
Profit for the year allocated to non-controlling interests | ¥ 288 | ¥ 232 | ¥ 468 |
Accumulated balances of non-controlling interests at the reporting date | ¥ 3,638 | ¥ 3,593 | |
China Eastern Airlines Jiangsu Co., Ltd. [member] | |||
Disclosure of subsidiaries [Line Items] | |||
Percentage of equity interest held by non-controlling interests | 37.44% | 37.44% | |
Profit for the year allocated to non-controlling interests | ¥ 115 | ¥ 114 | |
Dividends paid to non-controlling interests | 37 | 56 | |
Accumulated balances of non-controlling interests at the reporting date | ¥ 1,445 | ¥ 1,471 | |
China Eastern Airlines Yunnan Co., Ltd. [member] | |||
Disclosure of subsidiaries [Line Items] | |||
Percentage of equity interest held by non-controlling interests | 9.64% | 9.64% | |
Profit for the year allocated to non-controlling interests | ¥ 50 | ¥ 33 | |
Accumulated balances of non-controlling interests at the reporting date | ¥ 704 | ¥ 674 | |
China Eastern Airlines Wuhan Co., Ltd. [member] | |||
Disclosure of subsidiaries [Line Items] | |||
Percentage of equity interest held by non-controlling interests | 40.00% | 40.00% | |
Profit for the year allocated to non-controlling interests | ¥ 128 | ¥ 88 | |
Dividends paid to non-controlling interests | 45 | ||
Accumulated balances of non-controlling interests at the reporting date | ¥ 1,511 | ¥ 1,483 |
Partly-owned Subsidiaries wit_4
Partly-owned Subsidiaries with Material Non-controlling Interests - Summary of Financial Information of Subsidiaries that have Material Non-controlling Interests (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of subsidiaries [Line Items] | |||
Revenue | ¥ 120,986 | ¥ 115,278 | ¥ 102,475 |
Total expenses | 118,107 | 112,561 | 100,525 |
Profit for the year | 3,480 | 2,930 | 6,810 |
Total comprehensive income for the year | 3,433 | 2,587 | 7,094 |
Current assets | 19,743 | 15,932 | |
Non-current assets | 265,442 | 223,085 | |
Current liabilities | 78,363 | 73,064 | |
Non-current liabilities | 134,176 | 104,352 | |
Net cash flows from operating activities | 28,972 | 22,338 | 19,572 |
Net cash flows used in investing activities | (4,899) | (12,780) | (21,312) |
Net cash flows used in financing activities | (23,375) | (13,558) | ¥ 4,708 |
China Eastern Airlines Jiangsu Co., Ltd. [member] | |||
Disclosure of subsidiaries [Line Items] | |||
Revenue | 9,774 | 9,313 | |
Total expenses | 9,466 | 9,008 | |
Profit for the year | 308 | 305 | |
Total comprehensive income for the year | 309 | 297 | |
Current assets | 1,116 | 1,338 | |
Non-current assets | 12,620 | 9,460 | |
Current liabilities | 2,486 | 2,116 | |
Non-current liabilities | 7,390 | 4,753 | |
Net cash flows from operating activities | 1,930 | 1,036 | |
Net cash flows used in investing activities | (16) | (37) | |
Net cash flows used in financing activities | (1,874) | (991) | |
Net increase/ (decrease) in cash and cash equivalents | 40 | 8 | |
China Eastern Airlines Yunnan Co., Ltd. [member] | |||
Disclosure of subsidiaries [Line Items] | |||
Revenue | 11,634 | 10,523 | |
Total expenses | 11,110 | 10,183 | |
Profit for the year | 524 | 340 | |
Total comprehensive income for the year | 524 | 340 | |
Current assets | 575 | 379 | |
Non-current assets | 19,210 | 16,018 | |
Current liabilities | 3,623 | 3,213 | |
Non-current liabilities | 8,859 | 6,196 | |
Net cash flows from operating activities | 2,457 | 3,686 | |
Net cash flows used in investing activities | (425) | (592) | |
Net cash flows used in financing activities | (2,031) | (3,099) | |
Net increase/ (decrease) in cash and cash equivalents | 1 | (5) | |
China Eastern Airlines Wuhan Co., Ltd. [member] | |||
Disclosure of subsidiaries [Line Items] | |||
Revenue | 4,743 | 4,559 | |
Total expenses | 4,424 | 4,340 | |
Profit for the year | 319 | 219 | |
Total comprehensive income for the year | 328 | 217 | |
Current assets | 369 | 237 | |
Non-current assets | 7,917 | 7,048 | |
Current liabilities | 1,611 | 1,634 | |
Non-current liabilities | 2,897 | 1,944 | |
Net cash flows from operating activities | 885 | 775 | |
Net cash flows used in investing activities | (222) | (534) | |
Net cash flows used in financing activities | (666) | (243) | |
Net increase/ (decrease) in cash and cash equivalents | ¥ (3) | ¥ (2) |
Disposal of a Subsidiary - Addi
Disposal of a Subsidiary - Additional Information (Detail) - CNY (¥) ¥ in Millions | May 17, 2019 | Mar. 19, 2019 | Dec. 31, 2019 |
Disclosure of disposal of subsidiaries [line items] | |||
Proceeds from issue of ordinary shares | ¥ 9,442 | ||
Shanghai Airlines Tours [Member] | |||
Disclosure of disposal of subsidiaries [line items] | |||
Proceeds from issue of ordinary shares | ¥ 251 | ||
Proportion of ownership interest in subsidiary | 35.00% | ||
Proportion of ownership interests held by non-controlling interests | 65.00% |
Disposal of a Subsidiary - Summ
Disposal of a Subsidiary - Summary of Disposal of a Subsidiary (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net assets disposed of: | |||
Gain on disposal of a subsidiary | ¥ 64 | ¥ 0 | ¥ 1,754 |
Satisfied By [Abstract] | |||
Investments in associates | 1,977 | ¥ 1,696 | ¥ 1,654 |
Shanghai Airlines Tours International (Group) Co., Ltd. [member] | |||
Net assets disposed of: | |||
Property, plant and equipment | 26 | ||
Investments in associates | 9 | ||
Right-of-use assets | 10 | ||
Other non-current assets | 3 | ||
Prepayments and other receivables | 278 | ||
Restricted bank deposits and short-term bank deposits | 251 | ||
Trade and notes receivables | 115 | ||
Cash and cash equivalents | 90 | ||
Trade and bills payables | (79) | ||
Contract liabilities | (284) | ||
Other payables and accruals | (378) | ||
Lease liabilities | (10) | ||
Net assets | 31 | ||
Gain on disposal of a subsidiary | 64 | ||
Satisfied By [Abstract] | |||
Investments in associates | ¥ 95 |
Disposal of a Subsidiary - Su_2
Disposal of a Subsidiary - Summary of Analysis of Net Inflow of Cash and Cash Equivalents in Respect of Disposal of a Subsidiary (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of subsidiaries [abstract] | |||
Cash consideration | ¥ 0 | ||
Cash and bank balances disposed of | 90 | ||
Net outflow of cash and cash equivalents in respect of the disposal of a subsidiaryNet inflow of cash and cash equivalents in respect of the disposal of a subsidiary | ¥ (90) | ¥ (11) | ¥ 1,897 |
Notes to the Consolidated Sta_3
Notes to the Consolidated Statement of Cash Flows - Summary of Notes to Statement of Consolidated Cash Flows (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of cash flows [abstract] | |||
Profit before income tax | ¥ 4,299 | ¥ 3,856 | ¥ 8,610 |
Adjustments for: | |||
Depreciation of property, plant and equipment | 9,078 | 14,616 | 13,367 |
Depreciation of right-of-use assets | 12,298 | 45 | |
Amortization of intangible assets | 143 | 160 | 143 |
Depreciation of investment properties | 25 | 26 | 12 |
Amortization of lease prepayments | 43 | 45 | |
Amortization of other non-current assets | 536 | 468 | 402 |
Gains on disposal of property, plant and equipment | (22) | (267) | (13) |
Gain on disposal of prepayments for land use rights | (210) | (5) | |
Gain on disposal of investment in a subsidiary | (64) | 0 | (1,754) |
Gain on disposal of investment in an associate | 0 | (5) | (12) |
Gain on disposal of available-for-sale investments | (4) | ||
Dividend income from equity investments at fair value through other comprehensive income | (19) | (23) | |
Dividend income from available-for-sale investments | (33) | ||
Dividend income from a financial asset at fair value through profit or loss | (3) | (6) | |
Share of results of associates | (265) | (170) | (202) |
Share of results of joint ventures | (17) | (34) | (49) |
Net foreign exchange loss/(gain) | 890 | 1,983 | (2,378) |
(Gain)/loss on fair value changes of financial asset at fair value through profit or loss | (25) | 27 | |
(Gain)/loss on fair value changes of derivative financial instruments | (311) | 311 | |
Impairment charges | 4 | 318 | 494 |
Impairment losses on financial assets, net | 16 | 27 | (3) |
Interest income | (96) | (110) | (111) |
Interest expense | 5,169 | 3,727 | 3,184 |
Operating profit before working capital changes | 32,043 | 24,115 | 22,004 |
Changes in working capital | |||
Flight equipment spare parts | (457) | (66) | (109) |
Trade and notes receivables | (275) | 708 | (500) |
Prepayments and other receivables | (2,336) | (2,056) | (753) |
Sales in advance of carriage | (569) | ||
Contract liabilities | 1,281 | 1,051 | |
Restricted bank deposits and short-term bank deposits | 9 | 35 | (8) |
Trade and bills payables | (163) | 856 | 1,725 |
Other payables and accruals | 1,459 | 36 | 340 |
Staff housing allowances | (36) | 62 | |
Other long-term liabilities | (1,916) | (525) | (728) |
Post-retirement benefit obligations | (125) | 42 | (217) |
Provision for lease return costs for aircraft and engines | 617 | (113) | (139) |
Cash generated from operations | ¥ 30,137 | ¥ 24,047 | ¥ 21,108 |
Notes to the Consolidated Sta_4
Notes to the Consolidated Statement of Cash Flows - Summary of Major Non-cash Transactions (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of cash flows [abstract] | |||
Additions to right-of-use assets and lease liabilities | ¥ 24,434 | ||
Finance Lease obligations incurred for acquisition of aircraft | ¥ 7,945 | ¥ 6,865 |
Notes to the Consolidated Sta_5
Notes to the Consolidated Statement of Cash Flows - Summary of Changes in Liabilities Arising from Financing Activities (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Bank and other loans [member] | ||
Disclosure of reconciliation of liabilities arising from financing activities [Line Items] | ||
Beginning balance | ¥ 55,126 | ¥ 63,801 |
Changes from financing cash flows | (3,427) | (9,076) |
Foreign exchange movement | 139 | 401 |
Ending balance | 51,838 | 55,126 |
Bank and other loans [member] | Previously stated [member] | ||
Disclosure of reconciliation of liabilities arising from financing activities [Line Items] | ||
Beginning balance | 55,126 | |
Ending balance | 55,126 | |
Obligations Under Finance Leases [member] | ||
Disclosure of reconciliation of liabilities arising from financing activities [Line Items] | ||
Beginning balance | 77,427 | 66,868 |
Effect of adoption of IFRS 16 | 31,879 | |
Changes from financing cash flows | (23,895) | (9,629) |
Foreign exchange movement | 851 | 1,419 |
Disposal of a subsidiary | (10) | |
New leases | 24,023 | |
New finance leases | 18,769 | |
Ending balance | 110,275 | 77,427 |
Obligations Under Finance Leases [member] | Previously stated [member] | ||
Disclosure of reconciliation of liabilities arising from financing activities [Line Items] | ||
Beginning balance | ¥ 77,427 | |
Ending balance | ¥ 77,427 |
Notes to the Consolidated Sta_6
Notes to the Consolidated Statement of Cash Flows - Disclosure Of Detailed Information About Cash Flow Information For Leases Explanatory (Detail) ¥ in Millions | 12 Months Ended |
Dec. 31, 2019CNY (¥) | |
Disclosure of reconciliation of liabilities arising from financing activities [abstract] | |
Within operating activities | ¥ (631) |
Within investing activities | (1,449) |
Within financing activities | ¥ (23,895) |
Commitments - Additional Inform
Commitments - Additional Information (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Jan. 01, 2019 |
Disclosure of Capital Commitments [line items] | ||
Short term lease commitments | ¥ 83 | ¥ (206) |
Not later than one year [member] | ||
Disclosure of Capital Commitments [line items] | ||
Future lease payments | 62 | |
Later than one year and not later than five years [member] | ||
Disclosure of Capital Commitments [line items] | ||
Future lease payments | ¥ 16 |
Commitments - Summary of Capita
Commitments - Summary of Capital Commitments (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of capital commitments [Line Items] | ||
Capital commitments | ¥ 53,599 | ¥ 78,069 |
Aircraft, engines and flight equipment [member] | ||
Disclosure of capital commitments [Line Items] | ||
Capital commitments | 47,822 | 70,998 |
Other property, plant and equipment [member] | ||
Disclosure of capital commitments [Line Items] | ||
Capital commitments | 4,917 | 6,481 |
Investments [member] | ||
Disclosure of capital commitments [Line Items] | ||
Capital commitments | ¥ 860 | ¥ 590 |
Commitments - Summary of Aged A
Commitments - Summary of Aged Analysis of Contracted Expenditures for Aircraft, Engines and Flight Equipment (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of capital commitments [Line Items] | ||
Capital commitments | ¥ 53,599 | ¥ 78,069 |
Aircraft [member] | ||
Disclosure of capital commitments [Line Items] | ||
Capital commitments | 47,822 | 70,998 |
Aircraft [member] | Less than 1 year [member] | ||
Disclosure of capital commitments [Line Items] | ||
Capital commitments | 18,388 | 29,187 |
Aircraft [member] | 1 to 2 years [member] | ||
Disclosure of capital commitments [Line Items] | ||
Capital commitments | 12,442 | 24,735 |
Aircraft [member] | In the third year [member] | ||
Disclosure of capital commitments [Line Items] | ||
Capital commitments | 11,956 | 11,809 |
Aircraft [member] | In the fourth year [member] | ||
Disclosure of capital commitments [Line Items] | ||
Capital commitments | 3,892 | 4,674 |
Aircraft [member] | Over four years [member] | ||
Disclosure of capital commitments [Line Items] | ||
Capital commitments | ¥ 1,144 | ¥ 593 |
Commitments - Summary of Future
Commitments - Summary of Future Minimum Lease Rentals Under Operating Leases (Detail) ¥ in Millions | Dec. 31, 2018CNY (¥) |
Disclosure of maturity analysis of operating lease payments [Line items] | |
Future minimum lease rentals under operating leases | ¥ 37,278 |
Aircraft Engines and Flight Equipment under Operating Leases [member] | |
Disclosure of maturity analysis of operating lease payments [Line items] | |
Future minimum lease rentals under operating leases | 36,571 |
Aircraft Engines and Flight Equipment under Operating Leases [member] | Less than 1 year [member] | |
Disclosure of maturity analysis of operating lease payments [Line items] | |
Future minimum lease rentals under operating leases | 4,990 |
Aircraft Engines and Flight Equipment under Operating Leases [member] | 1 to 2 years [member] | |
Disclosure of maturity analysis of operating lease payments [Line items] | |
Future minimum lease rentals under operating leases | 5,371 |
Aircraft Engines and Flight Equipment under Operating Leases [member] | In the third to fifth years, inclusive [member] | |
Disclosure of maturity analysis of operating lease payments [Line items] | |
Future minimum lease rentals under operating leases | 12,041 |
Aircraft Engines and Flight Equipment under Operating Leases [member] | Over 5 years [member] | |
Disclosure of maturity analysis of operating lease payments [Line items] | |
Future minimum lease rentals under operating leases | 14,169 |
Land and Buildings [member] | |
Disclosure of maturity analysis of operating lease payments [Line items] | |
Future minimum lease rentals under operating leases | 707 |
Land and Buildings [member] | Less than 1 year [member] | |
Disclosure of maturity analysis of operating lease payments [Line items] | |
Future minimum lease rentals under operating leases | 398 |
Land and Buildings [member] | 1 to 2 years [member] | |
Disclosure of maturity analysis of operating lease payments [Line items] | |
Future minimum lease rentals under operating leases | 175 |
Land and Buildings [member] | In the third to fifth years, inclusive [member] | |
Disclosure of maturity analysis of operating lease payments [Line items] | |
Future minimum lease rentals under operating leases | 59 |
Land and Buildings [member] | Over 5 years [member] | |
Disclosure of maturity analysis of operating lease payments [Line items] | |
Future minimum lease rentals under operating leases | ¥ 75 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) - CNY (¥) ¥ in Billions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
China Eastern Air Holding Company [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Percentage of shares owned by related party | 30.97% | 35.06% |
Bonds guaranteed by CEA Holding | ¥ 7.8 | ¥ 7.8 |
CES Global Holdings (Hong Kong) Limited [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Percentage of shares owned by related party | 16.03% | 18.15% |
CES Finance Holding Co., Ltd. [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Percentage of shares owned by related party | 2.79% | 3.16% |
Related Party Transactions - Su
Related Party Transactions - Summary of Nature of Related Parties (Detail) | 12 Months Ended |
Dec. 31, 2019 | |
Eastern Air Group Finance Company [member] | |
Disclosure of nature of related parties [line items] | |
Relationship with the Group | Associate of the Company |
Eastern Aviation Import & Export Co., Ltd. [member] | |
Disclosure of nature of related parties [line items] | |
Relationship with the Group | Associate of the Company |
Shanghai Pratt & Whitney Aircraft Engine Maintenance Co., Ltd. [member] | |
Disclosure of nature of related parties [line items] | |
Relationship with the Group | Associate of the Company |
Eastern Aviation Advertising Service Co., Ltd. [member] | |
Disclosure of nature of related parties [line items] | |
Relationship with the Group | Associate of the Company |
Shanghai Collins Aviation Maintenance Service Co., Ltd. [member] | |
Disclosure of nature of related parties [line items] | |
Relationship with the Group | Associate of the Company |
CAE Melbourne Flight Training Pty Limited [member] | |
Disclosure of nature of related parties [line items] | |
Relationship with the Group | Joint venture of the Company |
Shanghai Eastern Union Aviation Wheels and Brakes Maintenance Services Overhaul Engineering Co Ltd [member] | |
Disclosure of nature of related parties [line items] | |
Relationship with the Group | Joint venture of the Company |
Shanghai Technologies Aerospace Co Ltd [member] | |
Disclosure of nature of related parties [line items] | |
Relationship with the Group | Joint venture of the Company |
Eastern China Kaiya System Integration Co Ltd [member] | |
Disclosure of nature of related parties [line items] | |
Relationship with the Group | Joint venture of the Company |
Shanghai Hute Aviation Technology Co Ltd [member] | |
Disclosure of nature of related parties [line items] | |
Relationship with the Group | Joint venture of the Company |
CEA Development Co., Ltd. and its subsidiaries [member] | |
Disclosure of nature of related parties [line items] | |
Relationship with the Group | Controlled by the same parent company |
China Eastern Air Catering Investment Co., Ltd. [member] | |
Disclosure of nature of related parties [line items] | |
Relationship with the Group | Controlled by the same parent company |
CES International Financial Leasing Corporation Limited [member] | |
Disclosure of nature of related parties [line items] | |
Relationship with the Group | Controlled by the same parent company |
Shanghai Eastern Airlines Investment Co., Ltd. [member] | |
Disclosure of nature of related parties [line items] | |
Relationship with the Group | Controlled by the same parent company |
Shanghai Eastern Airlines Logistics Co., Ltd. and its Subsidiaries [member] | |
Disclosure of nature of related parties [line items] | |
Relationship with the Group | Controlled by the same parent company |
Eastern Airlines Industry Investment Company Limited [member] | |
Disclosure of nature of related parties [line items] | |
Relationship with the Group | Controlled by the same parent company |
CES Finance Holding Co Limited [member] | |
Disclosure of nature of related parties [line items] | |
Relationship with the Group | Controlled by the same parent company and a substantial shareholder of the Company |
CES Global Holdings (Hong Kong) Limited [member] | |
Disclosure of nature of related parties [line items] | |
Relationship with the Group | Controlled by the same parent company and a substantial shareholder of the Company |
Hong Kong Securities Clearing Company Ltd [member] | |
Disclosure of nature of related parties [line items] | |
Relationship with the Group | A substantial shareholder of the Company |
Travelsky technology limited [member] | |
Disclosure of nature of related parties [line items] | |
Relationship with the Group | A director and vice president of the Company is a director of Travelsky |
China Aviation Supplies Holding Company and its Subsidiaries [member] | |
Disclosure of nature of related parties [line items] | |
Relationship with the Group | A director and vice president of the Company is a director of CASC |
Air France-KLM Group [member] | |
Disclosure of nature of related parties [line items] | |
Relationship with the Group | A director and vice president of the Company is a director of AFK |
Shanghai Airlines Tours International (Group) Co., Ltd. [member] | |
Disclosure of nature of related parties [line items] | |
Relationship with the Group | Associate of the Company |
Beijing Xinghang Aviation Property Co Ltd [Member] | |
Disclosure of nature of related parties [line items] | |
Relationship with the Group | Associate of the Company |
Juneyao Airlines Co Ltd [Member] | |
Disclosure of nature of related parties [line items] | |
Relationship with the Group | A director and vice president of the Company is a director of Juneyao Air |
Related Party Transactions - _2
Related Party Transactions - Summary of Related Party Transactions (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | ¥ 0 | ¥ 0 |
CEA Development Co., Ltd. and its subsidiaries [member] | Payments on food and beverages [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 78 | |
CEA Development Co., Ltd. and its subsidiaries [member] | Equipment Maintenance Fee [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 119 | 71 |
CEA Development Co., Ltd. and its subsidiaries [member] | Automobile Maintenance Service, Aircraft Maintenance, Providing Transportation Automobile and Other Products [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 13 | 13 |
CEA Development Co., Ltd. and its subsidiaries [member] | Property Management and Green Maintenance Expenses [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 205 | 102 |
CEA Development Co., Ltd. and its subsidiaries [member] | Payments on hotel accommodation service [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 134 | 127 |
Eastern Aviation Import & Export Co., Ltd. [member] | Payments on food and beverages [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 56 | 60 |
Eastern Aviation Import & Export Co., Ltd. [member] | Handling Charges for Purchase of Aircraft, Flight Equipment, Flight Equipment Spare Parts, Other Property, Plant and Flight Equipment and Repairs for Aircraft and Engines [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 142 | 165 |
Eastern Aviation Import & Export Co., Ltd. [member] | Payments on logistics services [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 49 | 142 |
Shanghai Pratt & Whitney Aircraft Engine Maintenance Co., Ltd. [member] | Repairs and Maintenance Expense for Aircraft and Engines [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 1,762 | 2,394 |
Shanghai Technologies Aerospace Co., Ltd. [member] | Repairs and Maintenance Expense for Aircraft and Engines [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 221 | 344 |
Wheels & Brakes [member] | Repairs and Maintenance Expense for Aircraft and Engines [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 144 | 129 |
Shanghai Hute Aviation Technology Co., Ltd. [member] | Repairs and Maintenance Expense for Aircraft and Engines [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 88 | 74 |
Eastern Aviation Advertising Service Co., Ltd. [member] | Payments on cabin cleaning services [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 22 | 20 |
Eastern Aviation Advertising Service Co., Ltd. [member] | Advertising Expense [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 29 | 19 |
Eastern Aviation Advertising Service Co., Ltd. [member] | Media Royalty Fee [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 15 | 14 |
China Kaiya [member] | Payments on system services [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 16 | 21 |
Shanghai Collins Aviation Maintenance Service Co., Ltd. [member] | Equipment Maintenance Fee [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 45 | 60 |
Travelsky technology limited [member] | Civil Aviation Information Network Services [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 753 | 646 |
CASC [member] | Flight Equipment Spare Parts Maintenance [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 143 | 189 |
CAE Melbourne Flight Training Pty Ltd. [member] | Flight Training Fee [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 70 | 75 |
AFK [member] | Payments on Aviation Transportation Cooperation and Support Services [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 537 | 425 |
AFK [member] | Media Royalty Fee [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 593 | 728 |
AFK [member] | Flight equipment spare parts maintenance and support services [Member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 19 | 2 |
China Eastern Air Holding Company [member] | Payments on food and beverages [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 1,471 | 1,317 |
China Eastern Air Holding Company [member] | Payments on Operating Leases [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 40 | 33 |
Eastern Logistics [member] | Payments on logistics services [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 53 | |
Eastern Logistics [member] | Bellyhold space management [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 32 | |
Eastern Logistics [member] | Bellyhold Space Operation Cost [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 310 | 246 |
Eastern Logistics [member] | Transfer of the Pilots [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 11 | 24 |
Eastern Logistics [member] | Cargo Terminal Business Support Services [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 481 | 348 |
Eastern Logistics [member] | Bellyhold Container Management [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 13 | 11 |
Eastern Logistics [member] | Contractual revenue from Bellyhold Space [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 3,826 | 2,795 |
Eastern Logistics [member] | Freight logistics support services [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 135 | 126 |
Eastern Logistics [member] | Software system and support services [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 4 | 42 |
Eastern Logistics [member] | Transfer of freight depots and equipment [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 28 | |
Eastern Air Finance [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 5 | |
Eastern Air Finance [member] | Interest Expense on Loans [Member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 27 | 13 |
Eastern Air Finance [member] | Interest Income on Deposits [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 15 | 26 |
Juneyao Air [Member] | Payments on Aviation Transportation Cooperation and Support Services [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 2 | |
Juneyao Air [Member] | Media Royalty Fee [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 11 | |
Eastern Investments [Member] | Payments on Operating Leases [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 83 | |
Eastern Investments [Member] | Payments on construction and and management agent [Member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 14 | 18 |
Shanghai Airlines Co., Ltd. [member] | Payments on hotel accommodation service [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 23 | |
XIESA [Member] | Repairs and Maintenance Expense for Aircraft and Engines [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | 2 | |
CES Lease Company [Member] | Payments on Operating Leases [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Income or receipts/(expense or payments) | ¥ 5,779 | ¥ 3,984 |
Related Party Transactions - _3
Related Party Transactions - Summary of Balances with Related Parties (Detail) ¥ in Millions | Dec. 31, 2019CNY (¥) | Dec. 31, 2019USD ($) | Dec. 31, 2018CNY (¥) |
Disclosure of balances between related parties [line items] | |||
Trade and notes receivables | ¥ 334 | ¥ 1 | |
Trade and bills payables | 1,661 | 1,219 | |
Amounts due from related parties | 776 | 278 | |
Contract liabilities | 11,677 | 10,396 | |
Other payables and accruals | 383 | 1,093 | |
Long-term borrowings (included in borrowings) CEA Holding | 26,604 | 25,867 | |
Shanghai Eastern Airlines Logistics Co., Ltd. [member] | |||
Disclosure of balances between related parties [line items] | |||
Trade and notes receivables | 295 | ||
Contract liabilities | 6 | ||
China Eastern Air Catering Investment Co., Ltd. [member] | |||
Disclosure of balances between related parties [line items] | |||
Trade and notes receivables | 1 | 1 | |
Trade and bills payables | 390 | 272 | |
Amounts due from related parties | 6 | 16 | |
Other payables and accruals | 2 | 1 | |
Eastern Aviation Import & Export Co., Ltd. [member] | |||
Disclosure of balances between related parties [line items] | |||
Trade and bills payables | 421 | 229 | |
Amounts due from related parties | 272 | 133 | |
Other payables and accruals | 5 | 129 | |
Shanghai Technologies Aerospace Co., Ltd. [member] | |||
Disclosure of balances between related parties [line items] | |||
Trade and bills payables | 104 | 141 | |
Amounts due from related parties | 7 | 31 | |
Eastern Aviation Advertising Service Co., Ltd. [member] | |||
Disclosure of balances between related parties [line items] | |||
Amounts due from related parties | 28 | 28 | |
Other payables and accruals | 3 | ||
CEA Development Co., Ltd. and its subsidiaries [member] | |||
Disclosure of balances between related parties [line items] | |||
Trade and bills payables | 76 | 15 | |
Amounts due from related parties | 7 | 7 | |
Other payables and accruals | 1 | 49 | |
China Eastern Air Holding Company [member] | |||
Disclosure of balances between related parties [line items] | |||
Amounts due from related parties | 25 | ||
Other payables and accruals | ¥ 111 | ||
Long-term borrowings (included in borrowings) CEA Holding | 3.86% | 3.86% | |
Long-term borrowings (included in borrowings) CEA Holding | ¥ 828 | ||
CASC [member] | |||
Disclosure of balances between related parties [line items] | |||
Trade and notes receivables | 23 | ||
Trade and bills payables | 17 | 18 | |
Amounts due from related parties | 13 | 12 | |
Other payables and accruals | 2 | 2 | |
CES Global [member] | |||
Disclosure of balances between related parties [line items] | |||
Amounts due from related parties | 3 | ||
TravelSky [member] | |||
Disclosure of balances between related parties [line items] | |||
Amounts due from related parties | 7 | ||
Shanghai Eastern Airlines Tour [Member] | |||
Disclosure of balances between related parties [line items] | |||
Trade and bills payables | $ | $ 3 | ||
Beijing Aviation Property [Member] | |||
Disclosure of balances between related parties [line items] | |||
Trade and bills payables | $ | 101 | ||
Others [member] | |||
Disclosure of balances between related parties [line items] | |||
Trade and notes receivables | 5 | ||
Trade and bills payables | 7 | 1 | |
Amounts due from related parties | 21 | 23 | |
Other payables and accruals | 8 | 3 | |
Shanghai Collins Aviation Maintenance Service Co., Ltd. [member] | |||
Disclosure of balances between related parties [line items] | |||
Trade and bills payables | 7 | 1 | |
China Eastern Air Holding Company [member] | |||
Disclosure of balances between related parties [line items] | |||
Trade and bills payables | 18 | 13 | |
Other payables and accruals | ¥ 104 | ||
Long-term borrowings (included in borrowings) CEA Holding | 3.89% | ||
Long-term borrowings (included in borrowings) CEA Holding | ¥ 528 | ||
Shanghai Hute Aviation Technology Co., Ltd. [member] | |||
Disclosure of balances between related parties [line items] | |||
Trade and bills payables | 13 | 15 | |
Shanghai Pratt & Whitney Aircraft Engine Maintenance Co., Ltd. [member] | |||
Disclosure of balances between related parties [line items] | |||
Trade and bills payables | $ | $ 465 | ||
Other payables and accruals | 315 | ||
China Kaiya [member] | |||
Disclosure of balances between related parties [line items] | |||
Other payables and accruals | 2 | ||
Shanghai Eastern Union Aviation Wheels & Brakes Maintenance Services Overhaul Engineering Co., Ltd. [member] | |||
Disclosure of balances between related parties [line items] | |||
Trade and bills payables | 17 | 14 | |
Travelsky technology limited [member] | |||
Disclosure of balances between related parties [line items] | |||
Trade and bills payables | 22 | 333 | |
CAE Melbourne Flight Training Pty Ltd. [member] | |||
Disclosure of balances between related parties [line items] | |||
Other payables and accruals | 311 | ||
Shanghai Eastern Airlines Investment Co., Ltd. [member] | |||
Disclosure of balances between related parties [line items] | |||
Other payables and accruals | 86 | 10 | |
CES International Financial Leasing Corporation Limited [member] | |||
Disclosure of balances between related parties [line items] | |||
Other payables and accruals | 166 | 164 | |
Obligations under finance leases | ¥ 42,848 | ¥ 30,190 | |
Eastern Air Group Finance Co., Ltd. [member] | |||
Disclosure of balances between related parties [line items] | |||
Short-term deposits (included in cash and cash equivalents) Eastern Air Finance Company | 0.35% | 0.35% | 0.35% |
Short-term deposits (included in cash and cash equivalents) Eastern Air Finance Company | ¥ 1,122 | ¥ 282 | |
CAE Melbourne [member] | |||
Disclosure of balances between related parties [line items] | |||
Percentage of loan to joint venture | 3.74% | 3.74% | 3.74% |
Loan to joint venture | ¥ 15 | ¥ 20 | |
Juneyao Air [Member] | |||
Disclosure of balances between related parties [line items] | |||
Trade and notes receivables | 10 | ||
Amounts due from related parties | 10 | ||
Eastern Logistics [member] | |||
Disclosure of balances between related parties [line items] | |||
Trade and bills payables | ¥ 167 | ||
XIESA [Member] | |||
Disclosure of balances between related parties [line items] | |||
Other payables and accruals | ¥ 2 | ||
Eastern Air Finance Company [Member] | |||
Disclosure of balances between related parties [line items] | |||
Other payables and accruals | $ | $ 405 |
Related Party Transactions - _4
Related Party Transactions - Summary of Key Management Compensation (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of transactions between related parties [Line Items] | ||
Compensation paid or payable to key management for employee services | ¥ 9 | ¥ 10 |
Directors and Supervisors [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Compensation paid or payable to key management for employee services | 1 | 2 |
Senior Management [member] | ||
Disclosure of transactions between related parties [Line Items] | ||
Compensation paid or payable to key management for employee services | ¥ 8 | ¥ 8 |
Financial Instruments by Cate_3
Financial Instruments by Category (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about financial instruments [Line Items] | ||
Financial assets at fair value through profit or loss | ¥ 121 | ¥ 96 |
Financial Liabilities at amortised cost | 188,591 | 157,736 |
Financial assets at fair value through other comprehensive income | 1,274 | 1,247 |
Derivatives used for hedging | 23 | 29 |
Financial assets at amortized cost | 14,964 | 5,113 |
Derivatives used for hedging | 70 | 223 |
Total | 16,429 | 6,679 |
Total | 188,614 | 157,765 |
Equity investments designated at fair value through other comprehensive income [member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Financial assets at fair value through other comprehensive income | 1,274 | 1,247 |
Total | 1,274 | 1,247 |
Derivative financial assets instruments [member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Derivatives used for hedging | 70 | 223 |
Total | 70 | 223 |
Financial assets included in other non-current assets [member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Financial assets at amortized cost | 180 | 190 |
Total | 180 | 190 |
Trade and notes receivables [member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Financial assets at amortized cost | 1,717 | 1,436 |
Total | 1,717 | 1,436 |
Financial asset at fair value through profit or loss [member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Financial assets at fair value through profit or loss | 121 | 96 |
Total | 121 | 96 |
Financial assets included in prepayments and other receivables [member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Financial assets at amortized cost | 11,711 | 2,825 |
Total | 11,711 | 2,825 |
Restricted bank deposits and short-term bank deposits [member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Financial assets at amortized cost | 6 | 16 |
Total | 6 | 16 |
Cash and Cash Equivalent [member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Financial assets at amortized cost | 1,350 | 646 |
Total | 1,350 | 646 |
Trade and bills payables [member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Financial Liabilities at amortised cost | 3,877 | 4,040 |
Total | 3,877 | 4,040 |
Financial liabilities included in other payables and accruals [member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Financial Liabilities at amortised cost | 22,602 | 21,143 |
Total | 22,602 | 21,143 |
Obligations Under Finance Leases [member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Financial Liabilities at amortised cost | 77,427 | |
Total | 77,427 | |
Borrowings in financial liabilities [member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Financial Liabilities at amortised cost | 51,837 | 55,126 |
Total | 51,837 | 55,126 |
Derivative financial liabilities instruments [member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Derivatives used for hedging | 23 | 29 |
Total | 23 | ¥ 29 |
Lease liabilities [member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Financial Liabilities at amortised cost | 110,275 | |
Total | ¥ 110,275 |
Fair Value and Fair Value Hie_3
Fair Value and Fair Value Hierarchy of Financial Instruments - Summary of Financial Instruments Not Measured at Fair Value (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||
Equity investments designated at fair value through other comprehensive income | ¥ 1,274 | ¥ 1,247 |
Financial asset at fair value through profit or loss | 121 | 96 |
Derivative financial assets | 70 | 223 |
Deposits relating to aircraft held under leases included in other non-current assets | 156 | 177 |
Total | 16,429 | 6,679 |
Derivative financial liabilities | 23 | 29 |
Long-term borrowings | 26,604 | 25,867 |
Lease liabilities | 94,685 | |
Obligations under finance leases | 68,063 | |
Total | 188,614 | 157,765 |
Carrying amount [member] | Financial liabilities [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||
Derivative financial liabilities | 23 | 29 |
Long-term borrowings | 26,604 | 25,867 |
Lease liabilities | 94,685 | |
Obligations under finance leases | 68,063 | |
Total | 121,312 | 93,959 |
Carrying amount [member] | Financial assets [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||
Equity investments designated at fair value through other comprehensive income | 1,274 | 1,247 |
Financial asset at fair value through profit or loss | 121 | 96 |
Derivative financial assets | 70 | 223 |
Deposits relating to aircraft held under leases included in other non-current assets | 156 | 177 |
Total | 1,621 | 1,743 |
Not measured at fair value but for which fair values are disclosed [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||
Deposits relating to aircraft held under leases included in other non-current assets | 148 | 154 |
Long-term borrowings | 23,754 | 25,875 |
Obligations under finance leases | 89,491 | 64,521 |
Total | 113,393 | 90,396 |
Not measured at fair value but for which fair values are disclosed [member] | Financial liabilities [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||
Derivative financial liabilities | 23 | 29 |
Long-term borrowings | 23,754 | 25,875 |
Lease liabilities | 89,491 | |
Obligations under finance leases | 64,521 | |
Total | 113,268 | 90,425 |
Not measured at fair value but for which fair values are disclosed [member] | Financial assets [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||
Equity investments designated at fair value through other comprehensive income | 1,274 | 1,247 |
Financial asset at fair value through profit or loss | 121 | 96 |
Derivative financial assets | 70 | 223 |
Deposits relating to aircraft held under leases included in other non-current assets | 148 | 154 |
Total | ¥ 1,613 | ¥ 1,720 |
Fair Value and Fair Value Hie_4
Fair Value and Fair Value Hierarchy of Financial Instruments - Summary of Significant Unobservable Inputs to the Valuation of Financial Instruments Together with a Quantitative Sensitivity Analysis (Detail) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||
Valuation technique | Valuation multiples | |
Significant unobservable input | Discount for lack of marketability | |
Sensitivity of fair value to the input | 1% (2018: 1%) increase/decrease in multiple would result in increase/ decrease in fair value by RMB11 million (2018: RMB11 million) | |
Bottom of range [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||
Range | 20.00% | 19.00% |
Top of range [member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of equity [line items] | ||
Range | 35.00% | 41.00% |
Fair Value and Fair Value Hie_5
Fair Value and Fair Value Hierarchy of Financial Instruments - Summary of Fair Value Hierarchy of Assets and Liabilities Measured at Fair Value (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about financial instruments [Line Items] | ||
Equity investments designated at fair value through other comprehensive income | ¥ 1,274 | ¥ 1,247 |
Derivative financial instruments, assets | 70 | 223 |
Financial asset at fair value through profit or loss | 121 | 96 |
Total, assets | 16,429 | 6,679 |
Derivative financial instruments, liabilities | 23 | 29 |
Total, liabilities | 188,614 | 157,765 |
Interest rate swaps [member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Derivative financial instruments, assets | 27 | 223 |
Derivative financial instruments, liabilities | 10 | |
At fair value [member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Equity investments designated at fair value through other comprehensive income | 1,274 | 1,247 |
Financial asset at fair value through profit or loss | 121 | 96 |
Total, assets | 1,465 | 1,566 |
Total, liabilities | 23 | 29 |
At fair value [member] | Interest rate swaps [member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Derivative financial instruments, assets | 70 | 223 |
At fair value [member] | Forward currency contracts [Member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Derivative financial instruments, liabilities | 23 | 29 |
At fair value [member] | Quoted prices in active markets (Level 1) [member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Equity investments designated at fair value through other comprehensive income | 496 | 510 |
Financial asset at fair value through profit or loss | 121 | 96 |
Total, assets | 617 | 606 |
At fair value [member] | Significant observable inputs (Level 2) [member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Total, assets | 70 | 223 |
Total, liabilities | 23 | 29 |
At fair value [member] | Significant observable inputs (Level 2) [member] | Interest rate swaps [member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Derivative financial instruments, assets | 70 | 223 |
At fair value [member] | Significant observable inputs (Level 2) [member] | Forward currency contracts [Member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Derivative financial instruments, liabilities | 23 | 29 |
At fair value [member] | Significant unobservable inputs (Level 3) [member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Equity investments designated at fair value through other comprehensive income | 778 | 737 |
Total, assets | ¥ 778 | ¥ 737 |
Fair Value and Fair Value Hie_6
Fair Value and Fair Value Hierarchy of Financial Instruments - Summary of Fair Value Hierarchy of Assets and Liabilities for which Fair Values are Disclosed (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about financial instruments [Line Items] | ||
Deposits relating to aircraft held under leases included in other non-currentassets | ¥ 156 | ¥ 177 |
Long-term bank borrowings | 26,604 | 25,867 |
Obligations under finance leases | 68,063 | |
Total | 188,614 | 157,765 |
Not measured at fair value but for which fair values are disclosed [member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Deposits relating to aircraft held under leases included in other non-currentassets | 148 | 154 |
Long-term bank borrowings | 23,754 | 25,875 |
Obligations under finance leases | 89,491 | 64,521 |
Total | 113,393 | 90,396 |
Not measured at fair value but for which fair values are disclosed [member] | Quoted prices in active markets (Level 1) [member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Long-term bank borrowings | 2,897 | 2,861 |
Total | 2,897 | 2,861 |
Not measured at fair value but for which fair values are disclosed [member] | Significant observable inputs (Level 2) [member] | ||
Disclosure of detailed information about financial instruments [Line Items] | ||
Deposits relating to aircraft held under leases included in other non-currentassets | 148 | 154 |
Long-term bank borrowings | 20,857 | 23,014 |
Obligations under finance leases | 89,491 | 64,521 |
Total | ¥ 110,496 | ¥ 87,535 |
Financial Risk Management Obj_3
Financial Risk Management Objectives and Policies - Additional Information (Detail) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2019CNY (¥)Contracts | Dec. 31, 2018CNY (¥)Contracts | |
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Percentage of operating expense accounted for by aircraft fuel | 29.00% | 33.00% |
Number of open crude oil option contracts | Contracts | 0 | 0 |
Balance due from BSP agents | ¥ 1,793 | ¥ 1,525 |
Fuel price risk [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Percentage change in fuel price | 5.00% | |
Increase in fuel cost due to a potential change in fuel prices [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Change in fuel costs due to a potential change in fuel prices | ¥ 1,710 | 1,684 |
Forward currency contracts [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Notional value | 5,414 | |
Billing and settlements plan agents [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Balance due from BSP agents | ¥ 835 | ¥ 637 |
Financial Risk Management Obj_4
Financial Risk Management Objectives and Policies - Summary of Foreign Currency Risk (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |||
Trade receivables | ¥ 1,793 | ¥ 1,525 | |
Cash and cash equivalents | 1,350 | 646 | |
Other non-current assets | 3,970 | 3,370 | |
Trade and other payables | (3,877) | (4,040) | |
Borrowings | (51,837) | (55,126) | |
Finance Lease [Member] | |||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |||
Lease liabilities | (110,275) | ¥ (109,306) | (77,427) |
USD [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |||
Trade receivables | 28 | 75 | |
Cash and cash equivalents | 635 | 124 | |
Other receivables | 2,065 | ||
Other non-current assets | 180 | 190 | |
Trade and other payables | (105) | (144) | |
Borrowings | (870) | (3,139) | |
USD [member] | Finance Lease [Member] | |||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |||
Lease liabilities | (45,674) | (25,376) | |
EUR [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |||
Trade receivables | 47 | 55 | |
Cash and cash equivalents | 63 | 47 | |
Other receivables | 3 | 2 | |
Trade and other payables | (3) | (2) | |
Borrowings | (3,073) | (3,566) | |
SGD [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |||
Trade receivables | 5 | 5 | |
Cash and cash equivalents | 5 | 10 | |
Other receivables | 1 | 1 | |
Trade and other payables | (5) | ||
Borrowings | (2,587) | (2,503) | |
SGD [member] | Finance Lease [Member] | |||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |||
Lease liabilities | (397) | (514) | |
KRW [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |||
Trade receivables | 10 | 25 | |
Cash and cash equivalents | 11 | ||
Other receivables | 130 | 131 | |
Borrowings | ¥ (1,810) | ¥ (1,066) |
Financial Risk Management Obj_5
Financial Risk Management Objectives and Policies - Summary of Sensitivity Analysis of Foreign Currency Risk (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Effect of change on profit or loss if currency weakens against foreign currency [member] | USD [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Effect on profit or loss/other comprehensive income if RMB (weakens)/strengthens against foreign currency | ¥ (328) | ¥ (178) |
Effect of change on profit or loss if currency weakens against foreign currency [member] | EUR [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Effect on profit or loss/other comprehensive income if RMB (weakens)/strengthens against foreign currency | (22) | (26) |
Effect of change on profit or loss if currency weakens against foreign currency [member] | SGD [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Effect on profit or loss/other comprehensive income if RMB (weakens)/strengthens against foreign currency | (22) | (23) |
Effect of change on profit or loss if currency weakens against foreign currency [member] | KRW [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Effect on profit or loss/other comprehensive income if RMB (weakens)/strengthens against foreign currency | (12) | (7) |
Effect of changeon profit or loss if currency strengthens against foreign currency [member] | USD [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Effect on profit or loss/other comprehensive income if RMB (weakens)/strengthens against foreign currency | 328 | 178 |
Effect of changeon profit or loss if currency strengthens against foreign currency [member] | EUR [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Effect on profit or loss/other comprehensive income if RMB (weakens)/strengthens against foreign currency | 22 | 26 |
Effect of changeon profit or loss if currency strengthens against foreign currency [member] | SGD [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Effect on profit or loss/other comprehensive income if RMB (weakens)/strengthens against foreign currency | 22 | 23 |
Effect of changeon profit or loss if currency strengthens against foreign currency [member] | KRW [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Effect on profit or loss/other comprehensive income if RMB (weakens)/strengthens against foreign currency | 12 | 7 |
Effect of change on other comprehensive income if currency weakens against foreign currency [member] | USD [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Effect on profit or loss/other comprehensive income if RMB (weakens)/strengthens against foreign currency | (41) | (34) |
Effect of change on other comprehensive income if currency strengthens against foreign currency [member] | USD [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Effect on profit or loss/other comprehensive income if RMB (weakens)/strengthens against foreign currency | ¥ 41 | ¥ 34 |
Financial Risk Management Obj_6
Financial Risk Management Objectives and Policies - Summary of Interest Rate Risk (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |||
Cash and cash equivalents | ¥ 1,350 | ¥ 646 | |
Restricted bank deposits and short-term bank deposits | 6 | 16 | |
Borrowings | (51,837) | (55,126) | |
Finance Lease [Member] | |||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |||
Lease liabilities/Obligations under finance leases | (110,275) | ¥ (109,306) | (77,427) |
Floating interest rate [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |||
Cash and cash equivalents | 1,350 | 646 | |
Restricted bank deposits and short-term bank deposits | 6 | 16 | |
Borrowings | (3,943) | (9,705) | |
Floating interest rate [member] | Finance Lease [Member] | |||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |||
Lease liabilities/Obligations under finance leases | (49,851) | (50,761) | |
Floating interest rate [member] | Interest rate swaps [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |||
Interest rate swaps at notional amount | 6,194 | 7,566 | |
Fixed interest rate [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |||
Borrowings | (47,929) | (45,477) | |
Fixed interest rate [member] | Finance Lease [Member] | |||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | |||
Lease liabilities/Obligations under finance leases | ¥ (60,423) | ¥ (26,666) |
Financial Risk Management Obj_7
Financial Risk Management Objectives and Policies - Summary of Sensitivity Analysis of Interest Rate Risk (Detail) - Floating interest rate [member] - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Effect of change on profit or loss if floating interest rate increases [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Effect on profit or loss/other comprehensive income if floating interest rate increases | ¥ (98) | ¥ (112) |
Effect of change on other comprehensive income if floating interest rate increases [member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Effect on profit or loss/other comprehensive income if floating interest rate increases | ¥ 12 | ¥ 14 |
Financial Risk Management Obj_8
Financial Risk Management Objectives and Policies - Summary of Contractual Undiscounted Cash Flows of Financial Liabilities (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of maturity analysis for non-derivative and derivative financial liabilities [Line Items] | ||
Borrowings | ¥ 54,972 | ¥ 58,818 |
Lease liabilities | 129,911 | |
Trade, bills and other payables | 26,479 | 19,747 |
Total | 211,362 | 169,545 |
Finance Lease [Member] | ||
Disclosure of maturity analysis for non-derivative and derivative financial liabilities [Line Items] | ||
Lease liabilities | 90,980 | |
Less than 1 year [member] | ||
Disclosure of maturity analysis for non-derivative and derivative financial liabilities [Line Items] | ||
Borrowings | 26,422 | 30,813 |
Trade, bills and other payables | 26,479 | 19,747 |
Total | 72,771 | 62,534 |
Less than 1 year [member] | Finance Lease [Member] | ||
Disclosure of maturity analysis for non-derivative and derivative financial liabilities [Line Items] | ||
Lease liabilities | 19,870 | 11,974 |
1 to 2 years [member] | ||
Disclosure of maturity analysis for non-derivative and derivative financial liabilities [Line Items] | ||
Borrowings | 8,796 | 8,074 |
Total | 26,487 | 20,088 |
1 to 2 years [member] | Finance Lease [Member] | ||
Disclosure of maturity analysis for non-derivative and derivative financial liabilities [Line Items] | ||
Lease liabilities | 17,691 | 12,014 |
2 to 5 years [member] | ||
Disclosure of maturity analysis for non-derivative and derivative financial liabilities [Line Items] | ||
Borrowings | 15,882 | 15,500 |
Total | 60,801 | 45,518 |
2 to 5 years [member] | Finance Lease [Member] | ||
Disclosure of maturity analysis for non-derivative and derivative financial liabilities [Line Items] | ||
Lease liabilities | 44,919 | 30,018 |
Over 5 years [member] | ||
Disclosure of maturity analysis for non-derivative and derivative financial liabilities [Line Items] | ||
Borrowings | 3,872 | 4,431 |
Total | 51,303 | 41,405 |
Over 5 years [member] | Finance Lease [Member] | ||
Disclosure of maturity analysis for non-derivative and derivative financial liabilities [Line Items] | ||
Lease liabilities | ¥ 47,431 | ¥ 36,974 |
Financial Risk Management Obj_9
Financial Risk Management Objectives and Policies - Summary of Market Equity Indices for Stock Exchanges and their Respective Highest and Lowest Points (Detail) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Hong Kong [member] | Hang Seng Index [member] | ||
Disclosure Of Change In Equity Price Risk [line items] | ||
Market equity indices | 28,190 | 25,846 |
Shanghai [member] | A Share Index [member] | ||
Disclosure Of Change In Equity Price Risk [line items] | ||
Market equity indices | 3,196 | 2,611 |
Bottom of range [member] | Hong Kong [member] | Hang Seng Index [member] | ||
Disclosure Of Change In Equity Price Risk [line items] | ||
Market equity indices | 30,157 | 33,154 |
Bottom of range [member] | Shanghai [member] | A Share Index [member] | ||
Disclosure Of Change In Equity Price Risk [line items] | ||
Market equity indices | 3,426 | 3,728 |
Top of range [member] | Hong Kong [member] | Hang Seng Index [member] | ||
Disclosure Of Change In Equity Price Risk [line items] | ||
Market equity indices | 25,064 | 24,586 |
Top of range [member] | Shanghai [member] | A Share Index [member] | ||
Disclosure Of Change In Equity Price Risk [line items] | ||
Market equity indices | 2,580 | 2,600 |
Financial Risk Management Ob_10
Financial Risk Management Objectives and Policies - Summary of Sensitivity to Every 10% Change in Fair Values of Equity Investments, with all other Variables Held Constant (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Equity investments designated at fair value through other comprehensive income [member] | Unlisted investments, at cost [Member] | ||
Disclosure Of Change In Equity Price Risk [line items] | ||
Carrying amount of equity investment | ¥ 778 | ¥ 737 |
Increase in comprehensive income | 58 | 55 |
Decrease in comprehensive income | (58) | (55) |
Hong Kong [member] | Equity investments designated at fair value through other comprehensive income [member] | Listed investments [member] | ||
Disclosure Of Change In Equity Price Risk [line items] | ||
Carrying amount of equity investment | 496 | 510 |
Increase in comprehensive income | 37 | 38 |
Decrease in comprehensive income | (37) | (38) |
Shanghai [member] | Assets at fair value through profit or loss [member] | Listed investments [member] | ||
Disclosure Of Change In Equity Price Risk [line items] | ||
Carrying amount of equity investment | 121 | 96 |
Increase in profit or loss | 9 | 7 |
Decrease in profit or loss | ¥ (9) | ¥ (7) |
Financial Risk Management Ob_11
Financial Risk Management Objectives and Policies - Summary of Debt Ratio (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Statement [LineItems] | |||
Total liabilities | ¥ 212,539 | ¥ 177,416 | |
Total assets | ¥ 285,185 | ¥ 239,017 | |
Debt ratio | 75.00% | 74.00% | |
Restatement [Member] | |||
Statement [LineItems] | |||
Total liabilities | ¥ 211,750 | ||
Total assets | ¥ 271,593 | ||
Debt ratio | 79.00% |
Events After the Reporting Pe_2
Events After the Reporting Period - Additional Information (Detail) ¥ / shares in Units, $ / shares in Units, ¥ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2019CNY (¥)¥ / sharesshares | Dec. 31, 2019USD ($)$ / sharesshares | Dec. 31, 2018CNY (¥)¥ / shares | Dec. 31, 2017CNY (¥)¥ / shares | |
Disclosure of Events After Reporting Period [line items] | ||||
Proposed dividends per share | ¥ / shares | ¥ 0.050 | ¥ 0 | ¥ 0.049 | |
Proposed dividends per share | ¥ | ¥ 819 | ¥ 740 | ||
Dividend Distribution Plan [Member] | ||||
Disclosure of Events After Reporting Period [line items] | ||||
Proposed dividends per share | $ / shares | $ 0.050 | |||
Proposed dividends per share | $ | $ 819 | |||
Shares outstanding | shares | 16,379,509,203 | 16,379,509,203 |