We anticipate that Disneyland Shanghai will increase traffic in the Shanghai market by 5-8%.

In the domestic market Air China will enhance the development of Shanghai tourist routes, and with the market increase brought by Disneyland we will enhance ticket prices and increase flight revenue. International route expansion in Shanghai will be focused on direct flights and additional collaboration with the Beijing hub; at the same time, we will expand our operating scale and improve market share and local controls. Through an increase in domestic flights and flights to Japan, Korea and Southeast Asia we will support the expansion of long-haul routes to Europe, North America and Australia. Based on the different advantages from each branch and subsidiary Air China will be fully able to leverage the strengths of the Shanghai routes and enhance investment in flights between hubs.