Shanghai-based low-cost carrier Spring Airlines is seeking an investor to take an equity stake in the business before an initial public offering.

Spring launched last July and operates to about 12 destinations in China using a fleet of three Airbus A320s on lease from GE Commercial Aviation Services.

A “financial investor” from overseas is being sought to buy a minority stake in the business, says Spring’s chairman, Wang Zhenghua.

The carrier’s fleet will have increased to six aircraft by year-end, with four more due to arrive next year and at least five in 2008. Wang says that, by then, the airline will be ready to establish a second base in China.

Source: Flight International