|Jul 21, 2017|
|Jul 21, 2017|
Currency in CNY
|Full time employees:||5,617|
Spring Airlines Co., Ltd. engages in the provision of local and international aviation services. It offers domestic routes such as Guangzhou, Zhuhai, Kunming, Xiamen, Shenyang, Harbin, Urumqi, Haikou, Guilin, Wenzhou and Qingdao. It also offers international routes within Asia. The company was founded by Zheng Hua Wang on November 1, 2004 and is headquartered in Shanghai, China.
Spring Airlines is a Chinese commercial airline based in Shanghai and is the nation's first low-cost carrier. Founded in 2004, the company made its maiden flight in July 2005. Demand for both domestic and overseas tours is growing in China along with an increase in the number of middle-income consumers. Spring Airlines is seeking to capitalize on the trend by minimize the cost of management and offering bargain fares.
Listed on the Shanghai Stock Exchange, Spring Airlines originated from Shanghai Spring International Travel Service founded in the 1980s by Wang Zhenghua after retiring from a civil service position. Wang developed the company into one of the largest private travel agencies in China.
While railways were the principal means of transportation in China until around 2000, Wang entered the aviation business in expectation of a steep increase in demand for flight services.
Spring Airlines currently flies over more than 50 domestic and international routes in total. Promoting cost cuts including fee-based in-flight meals, the company offers special discount tickets such as 99 yuan and 199 yuan.
Spring Airlines is also pushing ahead with business strategies to remain in the black despite lower fares. For example, the promotion of marketing campaigns enables the company to operate at more than 90% of capacity.
At present, Spring Airlines offers fares 30% lower on the average than rivals and maintains a seat-occupancy rate of more than 95%, it said.
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- Local currency
- US Dollar
|Income before tax||1,374.23M|
|Dividends per share||0.16|
|Operating cash flow||2,191.04M|
Currency in CNY
|Income before tax||206.85M|
|Dividends per share||0.02|
|Operating cash flow||329.79M|
Currency in USD
- President & Director: Yu Wang
- CFO, Secretary & Investor Relations Contact: Ke Chen
- Chief Engineer: Xin Yu Wu
- Director & Vice President: Zhi Jie Wang
- China Securities Finance Corp. Ltd.(7.9%)
- GF Fund Management Co., Ltd.(7%)
- Penghua Fund Management Co., Ltd.(2.7%)
- Taikang Asset Management Co., Ltd.(2.5%)
- Norges Bank Investment Management(2.0%)
- China Investment Corp. (Investment Company)(1.9%)
- National Social Insurance Fund Portfolio 418(1.7%)
- HuaAn Fund Management Co., Ltd.(1.6%)
- JF Asset Management Ltd.(1.4%)
- Bank of Communications Schroder Fund Management Co., Ltd.(1.1%)
- Website: http://www.springairlines.com
- Address: Hangyou Binguan, No. 528 Hongqiao Airport Road, Shanghai, 200335, China
- Phone: +86.21.22353088
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