Established on June 25 1988 China Eastern Airlines (CEA) is based in Shanghai, China. It operates international, domestic, and regional routes out if its main base Shanghai Pudong International Airport. It became the first airline to offer shares on the international market. It helped found China Cargo Airlines in a joint venture with Costco in 1998. The company is owned by the Chinese government (61%) and the rest is publicly held. It currently has over 29,000 employees which is up from 16,000 just three years ago.
After a flat year in 2006 when the stock did nothing much it started to make great gains in 2007. In January it was at about $20 a share. By May it was at $30. By September $50. In Mid September it skyrocketed to almost $130 a share. Since that time its has leveled off and by mid October it had fallen back to $70 a share. By early December it was back up to $110. The market has been falling back lately ( Its dropped over 250 points friday alone taking a 500 point hit for the week) and so has this stock. It closed at $85.88 on January 4 2007 after a nearly $5 loss for the day.
The good news is that despite the market troubles lately the Dow Jones was up for the year over 6%. This stock for the year was up over 300% going from about $20 to now over $80 so it has done well for those who invested in it last year to say the least.
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