The Financial Performance Analysis Of China Eastern Airlines M&A Shanghai Airlines

M & a strategy is an important way and means to develop and expand the horizontal expansion strategy and vertical extension strategy for the airline.According to international experience,the growth process of the world's major airlines to achieve lateral expansion is basically a rich and colorful history of corporate mergers.In this paper,the main mode of eastern airlines through a share swap absorption merger acquisitions Shanghai airlines this pattern has carried on the theoretical analysis and case analysis.First of all,the concept of mergers and acquisitions,as well as the system are summarized,and then analyzes the development situation of China's airlines and introduces its merger and acquisition.In the part of case analysis,this paper takes the case that eastern airlines m & a Shanghai airlines with a share swap absorption merger as an example.First of all,Carding the acquisition agreement of Eastern Airlines,Analysising the m&a motivation and the reason of choice a share swap.Then it analyzes the financial performance of Eastern Airlines merger and acquisition with the Factor analysis method and Accounting indicators method.Through the analysis found that these indicators have been improved after M & A,So the financial performance of M & A is quite obvious.Finally,the mechanism of financial performance is analyzed,From the two aspects of scale effect and synergy effect,this paper analyzes how mergers and acquisitions affect the financial performance.In the final section,This paper also analyzes the possible risks in the process of M & a,summarize the conclusion of this case study.Based on the present situation of civil aviation enterprises,this paper puts forward the Enlightenment of this research for civil aviation enterprises.