Spring Japan To Receive $151m Cash Injection

Japanese firms are to invest around JPY18bn ($151m) in low-cost carrier Spring Japan, according to the airline’s CEO.

Japanese firms are to invest around JPY18bn ($151m) in low-cost carrier Spring Japan, according to the airline’s CEO.

Wang Wei confirmed that a number of domestic companies including real estate and electronics firms have raised the capital to invest in the airline, which was setup in 2014 as a subsidiary of China’s Spring Airlines operating an all-737 fleet.

Spring Airlines owns 33 per cent of the LCC due to Japanese law limiting foreign ownership of its firms to one-third.

At the announcement on Tuesday (January 5), Wei also confirmed that Spring Japan has received approval from the country's aviation regulator to start operating international routes.

TAGS: Asia Pacific
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