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Spring Airlines NewsSpring Airlines defers IPO by at least one year
CHINA : Spring Airlines, China’s only LCC, announced plans to postpone an IPO for at least one year, as equity markets remain volatile amid the global economic downturn and passenger traffic remains sluggish. Chairman, Wang Zhenghua, revealed the proposed Shanghai and Hong Kong share sale, aimed at raising USD146 million, would be revisited in Sep-2010. Spring’s plans for an IPO have been delayed several times from late 2008 to Oct-2009 and Dec-2009. Spring Airlines expects fourth consecutive year of net profitability in 2009
CHINA : Spring Airlines espera que el 2009 sea su cuarto año consecutivo en beneficios netos China’s first LCC, Spring Airlines, stated it aims to double net profit to CNY40 million (USD5.9 million) in 2009, going against the trend of deep losses for Shanghai-based airilnes. The carrier expects to report revenues of CNY2.2 billion (USD322 million) in 2009, a 37.5% year-on-year increase. |
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