Shanghai-based Junyao Airlines, benefiting from robust domestic growth and yuan appreciation, earned a net profit of CNY18 million ($2.4 million) from January to August operating with an average load factor of 80%, President Wang Junjin revealed this week on the occasion of the carrier's one-year anniversary. He expressed satisfaction with the result considering the company's youth. Buttressed by the solid result, Junyao is seeking to sell a 20%-25% stake to an international investor.
"We hope to reduce our debt ratio through private placement," Wang explained. He noted that the company plans to list its shares in the future but declined to reveal a timetable. The airline also is considering launching international service to major Asian countries soon. It currently operates two A319s and three A320s. It will take delivery of an A320 this month and plans to place orders for as many as 30 aircraft by 2010 comprising a mix of A320s and A350s.
Anyone able to say what the status of China´s A350 order is? Still a LoI? Anyway, if above is confirmed a nice win for Airbus in one of the largest markets in future.