China budget airline plans market debut

By Winny Wang | July 29, 2009, Wednesday |

Online Edition

CHINA'S first budget carrier Spring Airlines plans to float shares on the Shanghai stock market in the second half of next year to finance expansion of its fleet.

The private carrier aims to running 100 aircraft by 2015, growing from the current 13 Airbus A320 jets, with 30 airplanes purchased, said its chairman Wang Zhenghua at today's news conference in Shanghai to celebrate its fourth anniversary.

"We are now choosing underwriters to help us launch an initial public offering on the main board in Shanghai," he said.

The carrier hasn't decided the size of the fundraising, but Citibank, a previously potential underwriter for the carrier, said in a plan in 2006 that the market value for the IPO would reach 8 billion yuan.

Spring Air also announced today that it had received approval from the Civil Aviation Administration of China last week to fly to overseas destinations near the Chinese mainland, including Hong Kong, Macau, Taiwan, Japan, Korea and Southeast Asia.

"We are still working out routes to link these new destinations and overseas routes will be launched ahead of the 2010 Shanghai World Expo," Wang said.

Transport

About Us
|
Terms of Use
|
RSS
|
Privacy Policy
|
Contact Us
|
Shanghai Call Center: 962288
|
Tip-off hotline: 52920043

沪ICP证：沪ICP备05050403号-1
|
互联网新闻信息服务许可证：31120180004
|
网络视听许可证：0909346
|
广播电视节目制作许可证：沪字第354号
|
增值电信业务经营许可证：沪B2-20120012

China budget airline plans market debut

Email this to your friend