BEIJING, Jan. 24, 2018 /PRNewswire/ -- AirMedia Group Inc.
("AirMedia" or the "Company") (Nasdaq: AMCN), an operator of
out-of-home advertising platforms in China targeting mid-to-high-end consumers as
well as a first-mover in the travel Wi-Fi market, today announced
that the Company, through its subsidiary Beijing AirMedia Tianyi
Information Technology Co., Ltd.("AirMedia Tianyi"), has entered
into a framework cooperation agreement (the "Agreement") with China
Eastern Airlines Corporation Limited (NYSE: CEA) through CEA's
joint venture with, China Eastern Airlines Media Co., Ltd. ("CEA
Media"), that will leverage AirMedia's capabilities in supporting
CEA's Wi-Fi service upgrade to benefit passengers.
China Eastern Airlines Corporation Limited (NYSE: CEA) is one of
China's three major airlines.
Currently, it operates a fleet of over 600 aircraft, with an
average age of less than 5.5 years, one of the youngest fleets
among major airlines in the world. As a member of the SkyTeam
Alliance, CEA serves over 100 million passengers globally and ranks
7th in the world. Through its air network, CEA now reaches 1,052
destinations in 177 countries. Currently, CEA has
aero-mobile internet services for 74 of its aircraft, comprising 70% of China's aero-mobile internet market. Each
year, there are going to be more than 300 new passenger planes for
domestic civil aviation, among which 50 wide-bodied aircrafts will
be put into the market. It is estimated that the whole aero-mobile
internet market scale is going to be more than 10 billion.
Pursuant to the Agreement, AirMedia Tianyi will have exclusive
cooperation rights with CEA over its aero entertainment resources
and information as well as duty free business, which makes AirMedia
Tianyi the first third-party company that provides real
commercialized operations for airlines' air and ground internet
system. The terms of the Agreement include but are not limited to
product planning, design, research and development, high quality
content resources infusion, advertisements, platform operation,
optimization and adjustments and product marketing etc.
As part of the Agreement, both parties agree to take advantages
of their high quality resources and industry preponderance to
conduct operations, and sales and marketing cooperation. Through
this cooperation, AirMedia Tianyi will help CEA to utilize its
A-class technology, resources, operational and liquidation
capabilities and other strong advantages to transform CEA's
business platform into a leading global in-flight entertainment
platform. Furthermore, AirMedia Tianyi will turn the large scale
investment of air to ground internet equipment, system and link
into high quality passenger experience while also bringing high
income to the airlines.
Mr. Herman Man Guo, Chairman and
Chief Executive Officer of AirMedia, stated, "We are excited to
announce this cooperation with China Eastern Airlines Media Co.,
Ltd. With this collaboration, we expect CEA Media to benefit from
our next generation outdoor advertising practices and expertise. We
look forward to the impact of this agreement on our upcoming
performance as we expand our client base and enter new
markets."
About AirMedia Group Inc.
Incorporated in 2007 and headquartered in Beijing, China, AirMedia Group Inc. (AMCN) is
an operator of out-of-home advertising platforms in China targeting mid-to-high-end consumers as
well as a first-mover in the travel Wi-Fi market. AirMedia sells
advertisements on the routes operated by several Chinese airlines
and at Sinopec's service stations in China. AirMedia also has concession rights to
operate the Wi-Fi systems on trains administered by eight railway
administrative bureaus in China as
well as on many long-haul buses in China. For more information, please visit
http://www.airmedia.net.cn.
Forward-Looking Statements
This announcement contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. All statements other than statements
of historical fact in this announcement are forward-looking
statements, including but not limited to, the Company's business
strategies and initiatives as well as the Company's business plans;
the Company's future business development, results of operations
and financial condition; expected changes in the Company's revenue
and certain cost or expense items; trends and competition in
China; general economic and
business conditions in China; and
other risks detailed in the Company's filings with the Securities
and Exchange Commission. These forward-looking statements involve
known and unknown risks and uncertainties and are based on current
expectations and projections about future events and financial
trends that the Company believes may affect its financial
condition, results of operations, business strategy and financial
needs. Investors can identify these forward-looking statements by
words or phrases such as "may," "will," "expect," "anticipate,"
"aim," "estimate," "intend," "plan," "believe," "potential,"
"continue," "is/are likely to" or other similar expressions. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and the
Company cautions investors that actual results may differ
materially from the anticipated results.
Company Contact:
Richard Wu
Chief Financial Officer
AirMedia Group Inc.
Tel: +86-10-8460-8678
Email: ir@ihangmei.com
Investor Contact:
Tina Xiao
President
Ascent Investor Relations LLC
Phone: +1-917-609-0333
Email: tina.xiao@ascent-ir.com
View original
content:http://www.prnewswire.com/news-releases/airmedia-enters-framework-cooperation-agreement-with-china-eastern-airlines-media-co-ltd-to-promote-airlines-wi-fi-service-300587456.html
SOURCE AirMedia Group Inc.