UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
___________________
FORM
6-K
Report
of Foreign Private Issuer
Pursuant
to Rule 13a-16 or 15d-16
under
the Securities Exchange Act of 1934
For the
month of July 2009
Commission
File Number: 001-14550
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China
Eastern Airlines Corporation Limited
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(Translation
of Registrant’s name into English)
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2550
Hongqiao Road
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Hongqiao
Airport
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Shanghai,
China 200335
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(Address
of principal executive offices)
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Indicate by check mark whether the
registrant files or will file annual reports under cover of Form 20-F or Form
40-F: x Form
20-F o Form
40-F
Indicate by check mark if the registrant
is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(1): o
Indicate by check mark if the registrant
is submitting the Form 6-K in paper as permitted by Regulation S-T Rule
101(b)(7): o
Indicate by check mark whether the
registrant by furnishing the information contained in this Form
is also thereby furnishing the information to the Commission pursuant to Rule
12g3-2(b) under the Securities Exchange Act of 1934: o Yes x No
If "Yes" is marked, indicate below the
file number assigned to the
registrant in connection with Rule 12g3-2(b): n/a
SIGNATURES
Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned, thereunto duly
authorized.
| China Eastern Airlines Corporation Limited | |||||
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(Registrant)
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| Date | July 15, 2009 |
By:
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/s/ Luo Zhuping | ||
| Name: Luo Zhuping | |||||
| Title: Company Secretary | |||||
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Certain
statements contained in this announcement may be regarded as
"forward-looking statements" within the meaning of the U.S. Securities
Exchange Act of 1934, as amended. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors, which may cause the actual performance, financial condition or
results of operations of the Company to be materially different from any
future performance, financial condition or results of operations implied
by such forward-looking statements. Further information
regarding these risks, uncertainties and other factors is included in the
Company's filings with the U.S. Securities and Exchange
Commission. The forward-looking statements included in this
announcement represent the Company's views as of the date of this
announcement. While the Company anticipates that subsequent
events and developments may cause the Company's views to change, the
Company specifically disclaims any obligation to update these
forward-looking statements, unless required by applicable
laws. These forward-looking statements should not be relied
upon as representing the Company's views as of any date subsequent to the
date of this announcement.
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The
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong
Limited take no responsibility for the contents of this document, make no
representation as to its accuracy or completeness and expressly disclaim any
liability whatsoever for any loss howsoever arising from or in reliance upon the
whole or any part of the contents of this document.
(a joint stock limited company
incorporated in the People’s Republic of China with limited
liability)
(Stock code: 670)
ANNOUNCEMENT
IN RELATION TO FUEL HEDGING ACTIVITIES
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This
announcement is made by China Eastern Airlines Corporation Limited
pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on
The Stock Exchange of Hong Kong
Limited.
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On 27
February 2009, China Eastern Airlines Corporation Limited (the “Company”) issued an
announcement in relation to its fuel hedging activities setting out a
sensitivity analysis conducted on the fair value of its fuel hedging contracts
as of 31 December 2009.
Since the
first half of 2009, the international oil price continued to fluctuate with an
upward trend. The closing price of the West Texas Intermediate (WTI) crude oil
on the New York Mercantile Exchange on 30 June 2009 was US$69.89 per barrel,
representing an increase of 56.70% compared to the price of US$44.60 per barrel
on 31 December 2008, which is beyond the scope of oil price fluctuation as
specified in the Company’s announcement dated 27 February 2009. It is expected
that the oil price movement in the futures market, volatility rate of oil price,
convergence rates and other parameters adopted in evaluating the fair value of
the fuel hedging contracts have changed due to the changes in market
conditions.
In order
to disclose the impact of the change in oil price on the fair value loss/gain
arising from the fuel hedging activities of the Company in 2009, at the request
of the Shanghai Stock Exchange, the Company sets out below again the sensitivity
analysis of the fair value of the fuel hedging contracts as of 31 December 2009,
which is based on the major parameters adopted by the Company in evaluating the
fair value of the fuel hedging contracts as of 30 June 2009, conducted in
accordance with the amount and prices of the contracts of the Company as of 30
June 2009 and after taking into consideration the impact of actual settlement of
the fuel hedging contracts for the second half of 2009:
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Change
in WTI closing price as
compared
to that as of
30
June 2009 and corresponding price
(US$
per barrel)
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Decrease
in the book fair value as of
31
December 2009 as compared to that
as
of 31 December 2008
(in
RMB million)
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30%
(90.86)
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6,263
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20%
(83.87)
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5,865
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10%
(76.88)
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5,382
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-10%
(62.90)
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4,053
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-20%
(55.91)
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3,126
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-30%
(48.92)
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2,039
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1
Investors
are reminded that the above sensitive analysis is based on the assumption of the
forward fuel price curve of the futures market and volatility rate of fuel
price, etc, as adopted by the Company in evaluating the fair value of the fuel
hedging contracts as at 30 June 2009, and also taking into account the decrease
in the rest of the contacting period. Therefore, it is likely that the
projection may, to a certain extent, be different from the actual situation on
31 December 2009. Accordingly, the actual fair value of fuel hedging contracts
on 31 December 2009 may differ from the results of the above analysis. As at 30
June 2009, the amount of the change in the fair value of the fuel hedging
contracts of the Company, after deducting the actual settlement, has an impact
as to approximately RMB2,740 million (unaudited) on the profit of the interim
report of the Company. For final financial information of the Company, please
refer to the relevant periodic financial reports of the Company.
Shanghai
Securities News（上海證券報）and China
Securities Journal （中國證券報）are the
designated press of the Company for disclosure of information and any
information published by the Company in the said press shall prevail. Investors
are advised to be cautious and take note of the risk associated with the
investment.
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By
order of the board of directors
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CHINA
EASTERN AIRLINES CORPORATION LIMITED
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Luo
Zhuping
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Director
and Company Secretary
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The
directors of the Company as at the date of this announcement are:
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Liu
Shaoyong
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(Chairman)
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Li
Jun
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(Vice
Chairman)
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Ma
Xulun
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(Director,
President)
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Luo
Chaogeng
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(Director)
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Luo
Zhuping
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(Director,
Company Secretary)
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Hu
Honggao
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(Independent
Non-executive Director)
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Wu
Baiwang
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(Independent
Non-executive Director)
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Zhou
Ruijin
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(Independent
Non-executive Director)
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Xie
Rong
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(Independent
Non-executive Director)
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Sandy
Ke-Yaw Liu
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(Independent
Non-executive Director)
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Shanghai,
the People’s Republic of China
15 July
2009
2