Chinese LCC plans floatation
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China’s only low-cost carrier, Spring Airlines, is preparing to float on the Shanghai Stock Exchange, according to local media reports. The airline has registered with the Shanghai Bureau of China Securities Regulatory Commission (CSRC) with a view to launching an initial public offering (IPO) by the end of the year. The carrier previously tried a flotation in 2006, but the plans were derailed by the global economic crisis. The IPO is hoped to raise fund for the airline’s fleet expansion. The airline recently announced plans to increase its fleet to 100 aircraft by 2015, including 30 owned planes. This would mark a significant rise from its current fleet of 20 aircraft, only three of which are owned.
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