"In the next five-to-10 years, China will embrace an explosive growth period for low-cost carriers," Hainan Airlines' low-cost subsidiary Hong Kong Express president Ma Zhimin noted earlier this year.His prediction seems sound, judging by the success of startups like Spring Airlines and the emergence of new LCCs eager to follow its path. After a long wait, Spring Airlines' IPO on the Shanghai Stock Exchange, has moved into the fast track. On April 24, the Shanghai-based LCC formally released its prospectus in which it states that Spring plans to launch an IPO by circulating 100 million A' shares and raise CNY2.5 billion ($0.4 billion) funds for new aircraft purchase and cash flow.
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