The Civil Aviation Administration of China (CAAC) has approved the launch of Shanghai-based Juneyao Airlines’ low-cost (LCC) subsidiary Jiuyuan Airlines. The new joint venture airline is set up with a registered capital of 600 million yuan, of which 69% will be contributed by Juneyao Airlines with 414 million yuan in cash or in kind, 15% by Elion with 90 million yuan, 10% by Macrolink Group with 60 million yuan and the rest 36 million yuan invested by Ji Guangping. Juneyao Airlines will be based at Guangzhou Baiyun International Airport (CAN), the carrier is set to operate Airbus A320 aircraft.

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