Spring Airlines to raise CNY4b for fleet expansion
Spring Airlines plans to circulate up to 91.5122m shares of its stock at CNY43.71 (US$6.55) per share, to no more than 10 specified investors. The share issue is to raise CNY4b towards the purchase of 10 Airbus A320s and one A320 simulator. According to Spring, the overall deal is worth CNY6.488b. Spring estimates the new A320s will boost the carrier’s operating revenue by about CNY1.5b per year, and the simulator will save Spring about CNY8m in annual operating costs. Spring plans to expand its fleet to 100 aircraft by 2018 to meet growing market demand. The airline operates 61 Airbus A320-family aircraft, and is scheduled to take delivery of more than 10 aircraft in 2017–18. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-08-29/unaligned/spring-airlines-to-raise-cny4b-for-fleet-expansion
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Spring Airlines to raise CNY4b for fleet expansion
Spring Airlines plans to circulate up to 91.5122m shares of its stock at CNY43.71 (US$6.55) per share, to no more than 10 specified investors. The share issue is to raise CNY4b towards the purchase of 10 Airbus A320s and one A320 simulator. According to Spring, the overall deal is worth CNY6.488b. Spring estimates the new A320s will boost the carrier’s operating revenue by about CNY1.5b per year, and the simulator will save Spring about CNY8m in annual operating costs. Spring plans to expand its fleet to 100 aircraft by 2018 to meet growing market demand. The airline operates 61 Airbus A320-family aircraft, and is scheduled to take delivery of more than 10 aircraft in 2017–18. <br/>
