New LCC a Product of Chinese Reform | Aviation International News

New LCC a Product of Chinese Reform

A new private low-fare carrier in China plans to launch operations in August.

The launch of a new low-fare carrier in August will make Juneyao Airlines to first privately held Chinese carrier outside Hong Kong's HNA Group to operate a subsidiary. (Photo: Airbus)

By Jennifer Meszaros • Contributor - Asia

April 3, 2014

Shanghai-based Juneyao Airlines plans to take advantage of more aggressive Chinese aviation reforms with the formation of a new low-cost carrier called Jiuyuan Airlines. Plans call for the new joint venture between Juneyao and three private investors to start operations in August. Privately held Juneyao holds a 69-percent stake in the new carrier, whose registered capital base totals $96 million. Based in Guangzhou, Jiuyuan translates in English to “Nine Yuan,” reflecting starting fares of $1.46.

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