Financial Round Up
Juneyao outperforms China’s “Big Three”, goes public
September 23rd 2014
China’s ‘boutique’ budget airline Juneyao Airlines has broken the trend of dwindling profits and losses at the mainland carriers in first-half 2014. Read More »
Juneyao posted a 191 million yuan ($31.1 million) operating profit on revenue of 3.2 billion yuan (US$518.8 million). However, it also received government subsidies of 57.1 million yuan (US$9.3 million), which effectively reduce its net profit to 134 million yuan (US$21.8 million) only.
Following in the footsteps of Spring Airlines – China's first low-cost airline – Juneyao has filed an application to go public with the China Securities Regulatory Commission.
The Shanghai-based carrier has a current fleet of 36 A320/321 aircraft, serving 38 domestic and regional destinations.
