Business Round-Up
Profitable Juneyao applies for IPO
October 1st 2014
China’s ‘boutique’ budget carrier, Juneyao Airlines, has bucked the trend of dwindling profits and losses at Mainland carriers in 2014. The airline posted a 191 million yuan (US$31.1 million) operating profit on revenue of 3.2 billion yuan for the reporting months. Read More » However, it has received government subsidies of 57.1 million yuan, which effectively reduced its net profit to 134 million yuan. 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 carrier flies 36 A320/321 aircraft to 38 domestic and regional destinations.
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