Spring Airlines aims to raise more than $1.2 billion in an initial public offering (IPO) in the first quarter of 2012. The budget Chinese carrier need to raise funds to help finance its expansion ambitions – it wants to double its fleet size in the next four years. UBS is advising Spring Airlines on its IPO plan, which is reported to be progressing. If it takes place, the IPO will make Spring Airlines China’s fifth-listed carrier, after bigger rivals Air China, China Eastern Airlines Corp, China Southern Airlines Co and Hainan Airlines Co.
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