Spring Airlines & Juneyao Airlines enjoy post-IPO success while 9 Air struggles as a new Chinese LCC

For much of their existence, China's privately-owned Spring and Juneyao Airlines were in something of regulatory limbo, neither shunned nor blessed. But China in late 2013 actively began to promote LCC Spring as a model of efficiency and declared that China needed more LCCs and cost-efficient carriers; since then its short term prospects have been brighter. Spring and Juneyao were finally allowed to go public just as China's stock market boomed. Full service airlines have also benefitted from the interest in aviation, and China Eastern Airlines issued new shares.

Stock prices soaring on bullish growth prospects can disguise another reality of the Chinese aviation market: it can be heavily protectionist, as seen with 9 Air, China's first all-new LCC since policy changes. 9 Air launched in Jan-2015 after repeated delays but has been unable to secure slots at its home base of Guangzhou, despite assurances from the previous local government.