Air Transportation Services

Shenzhen Airlines

Shenzhen Airlines Company Limited (“Shenzhen Airlines”) is a 49% owned associate of the Group. It is principally engaged in passenger transport and cargo transport and the provision of aviation related services. As at 30 June 2025, Shenzhen Airlines had 234 aircrafts in its fleet, and operated 320 routes, comprising 287 domestic routes and 33 international and regional routes.

Air China Cargo

In 2021, the Group successfully acquired 1,069 million shares of Air China Cargo Co., Ltd. (“Air China Cargo”) by investing approximately RMB1,565 million, securing a 10% equity interest and positioning itself as a strategic shareholder. On 30 December 2024, Air China Cargo successfully completed its initial public offering (IPO) of A shares and was listed on the main board of the Shenzhen Stock Exchange (stock code: 001391.SZ). Following the listing of Air China Cargo, the Group’s shareholding was adjusted accordingly to approximately 8.76%. 

Updated on 16 September 2025