Spring Airlines expects USD36 million profit in 2009; Preparing for future IPO around 2011

Spring Airlines Chairman, Wang Zhenghua, stated China's leading LCC is likely to report a net profit of CNY120 million (USD36 million) in 2009, compared with CNY20 million (USD6 million) in 2008 (China Daily, 25-Nov-2009). The airline recently ordered 14 aircraft to consolidate its business and to prepare for a future IPO, possibly around 2011.