Spring Airlines, which has its headquarters in Shanghai, was the first low-cost carrier in China. It was launched in July 2005 and closed its initial public offering (IPO) in January 2015. As of 18 May 2018, the airline had a market capitalisation of Rmb33 billion ($4.3 billion). Its fleet size numbers 79 aircraft with an average age of 3.8 years. Load factor has been above 90% since at least 2011.
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