Spring out with draft IPO plan; United counts the cost of winter delays

Airline initial public offerings (IPOs) are experiencing a resurgence of late – last year saw the successful listing of Volaris and Pegasus with Interjet, Hong Kong Airlines, Vietnam Airlines and potentially Virgin America seeking to list this year. Spring Airlines has now released its draft IPO plan that sets out its aim to raise 2.53 billion yuan ($405 million) with an offering of 100 shares listing in Shanghai. The Chinese carrier wants to use the proceeds to fund the expansion of its current fleet of 39 A320s with the purchase of up to nine more A320s and three flight simulators.