Spring Airlines has received formal approval by the China Securities Regulatory Commission to hold an initial public offering (IPO) next year to fund its rapid fleet expansion. The carrier plans to circulate 1 billion shares in Shanghai Stock Exchange and collect about CNY2.5 billion ($413 million) to purchase nine Airbus A320s and three A320 simulators. According to Spring chairman Wang Zhenghua, the Shanghai-based carrier operates 46 A320 aircraft and plans to introduce more than 10 ...

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