One Two Three Airlines (OTT Airlines), a subsidiary of China Eastern Airlines, was officially unveiled in Shanghai on Wednesday.

OTT Airlines will mainly operate domestic passenger planes such as the ARJ21 and C919 and serve passengers in the Yangtze River Delta and nearby regions.

The ARJ21 is China's first turbo-fan regional passenger jetliner and was put into commercial service in June 2016. The C919 jet, with a range of 4,075 km, is comparable to the updated Airbus 320 and Boeing's new generation 737.

The first batch of ARJ21 airplanes will be handed over this year, according to the company.

"OTT can be understood as 'on time travel,' meaning that the journey is always on time. It can also be understood as 'over top travel,' implying that we will offer an incomparable flight experience to customers," said the company in a press release.

The predecessor of OTT Airlines is China Eastern Business Jet Co., Ltd., which mainly focuses on business jet operations and management.