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Jiangxi Airlines plans January launch; Spring expands in Heibei
November 27th 2015
Jiangxi Airlines, the venture of Xiamen Airlines in conjunction with the Jiangxi provincial government, is expected to launch flights in January 2016, according to general manager, Wu Xiangyang. Read More »
The new Nanchang-based carrier initially plans to operate five B737-800s from Xiamen Air on domestic routes from Nanchang to Xi’an, Urumqi, Chongqing, Shenzhen, Beijing, Shanghai, Guangzhou and Xiamen using codes "RY" and "989". It intends to add three B737s next year and expand its fleet to 20 aircraft by 2020.
Jiangxi Airlines has a registered capital of 2 billion yuan ($313 million). Xiamen holds a 60%, including aircraft and the assets of Xiamen’s Nanchang Branch Co. Jiangxi Aviation Investment Co., representing the Jiangxi provincial government, holds the 40% with an 800 million yuan investment.
Budget carrier, Spring Airlines, last week announced a new Hebei branch would be set up at Shijiazhuang Zhengding International Airport to meet growing demand in the North China market . It also has applied to the Civil Aviation Administration of China (CAAC) for traffic rights to North Korea from February. If granted, the four times a week Pudong-Pyongyang A320 rotation would be North Korea’s first low-cost carrier service. At present, Air China is the only foreign operator to serve the reclusive state with a twice-weekly Beijing-Pyongyang flight. National carrier, Air Koryo, offers scheduled passenger services between Pyongyang and Beijing, Shenyang and Vladivostok.
Separately, Shanghai’s China Eastern Airlines has completed the issuance of two billion yuan in short-term commercial papers, its sixth batch this year with a maturity of 270 days, a 100 yuan face value and a 3.1% interest rate, to refinance maturing loans.
