SHANGHAI, April 21, 2016 /PRNewswire/ -- Ctrip.com
International, Ltd. (Nasdaq: CTRP), a leading travel service
provider of accommodation reservation, transportation ticketing,
packaged tours and corporate travel management in China ("Ctrip"), and China Eastern Air Holding
Company ("CEAH"), one of China's three major air transportation
groups and the parent company of China Eastern Airlines (SSE:
600115, SEHK: 00670, NYSE: CEA), today announced their entry into a
strategic collaboration agreement, under which Ctrip and CEAH will
collaborate with each other on a broad range of products and
services such as low-cost transportation solutions, international
air travel, IT technology, travel insurance, and
e-commerce. In connection with the agreement, Ctrip has agreed
to invest RMB3 billion in
China Eastern Airlines' A shares
through a private placement of shares. Ctrip may elect to
further increase its ownership stake in China Eastern Airlines in the next twelve
months following the placement and may be entitled to appoint an
observer or a director to China Eastern Airlines' board of
directors, subject to the satisfaction of certain conditions such
as ownership thresholds.
About Ctrip.com International, Ltd.
Ctrip.com International, Ltd. is a leading travel service
provider of accommodation reservation, transportation ticketing,
packaged tours, and corporate travel management in China. It is the largest online consolidator
of accommodations and transportation tickets in China in terms of transaction volume. Ctrip
enables business and leisure travelers to make informed and
cost-effective bookings by aggregating comprehensive travel related
information and offering its services through an advanced
transaction and service platform consisting of its mobile apps,
Internet websites and centralized, toll-free, 24-hour customer
service center. Ctrip also helps customers book vacation packages
and guided tours. In addition, through its corporate travel
management services, Ctrip helps corporate clients effectively
manage their travel requirements. Since its inception in 1999,
Ctrip has experienced substantial growth and become one of the
best-known travel brands in China.
About China Eastern Air Holding Company
China Eastern Air Holding Company is one of the top three
state-owned major airline groups in China, controlled by State-owned Assets
Supervision and Administration Committee to perform the investor's
duty on behalf of the State Council. The Company, through
constant industrial restructuring and resource optimization, has
seen a relatively complete air transportation industry system
centering on air transport, including eight major areas of air
transport, aviation real estate, aviation finance, catering, media
and duty-free goods, trade circulation, industrial development and
general aviation. China Eastern Airlines Co., Ltd. (hereinafter
referred to as "China Eastern" )
operates core business of China Eastern Air Holding Company,
providing approximately 94 million passengers with premium,
comfortable and easy air service and boasting top 10 in the world
in terms of many key indexes in 2015. China
Eastern is a SkyTeam member and, with the aid of seamless
connections with other SkyTeam members, it has constructed a
world-wide aviation network from Shanghai as its core hub to 1,052 destinations
in 177 countries throughout the world.
For further information, please contact:
Investor Relations
Ctrip.com International, Ltd.
Tel: (+86) 21 3406 4880 X 12300
Email: iremail@ctrip.com
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SOURCE Ctrip.com International, Ltd.