China Trade Information

China’s Juneyao Group, China’s privately-owned conglomerate, aims to list its airline arm in 2010, sources citing Wang Junhao, the group’s vice-chairman as saying.

Shanghai-based Juneyao Air, which started operation in September 2006, is one of China’s leading privately owned carriers, offering services in 27 regional routes. It raked in a net profit of RMB 18 million in 2007.

Juneyao Air plans to expand its fleet to 40 by 2010 and has ordered six Airbus A320 planes for delivery next year, according to Wang. He also disclosed that an unidentified foreign investor now holds a 25% stake of Juneyao Air though an investment of US$100 million.

Juneyao has appointed Citigroup as the underwriter for the unit’s IPO.

Tags: Airbus, IPO

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