Spring Airlines taps HSH Nordbank for USD20 million loan

Shanghai-based LCC, Spring Airlines, stated it has entered its first bank loan agreement, borrowing USD20 million from Germany’s HSH Nordbank. The funds will be used to acquire aircraft next year. Spring Airlines announced plans in May-08 to order 30 A320s, subject to regulatory approval, as part of plans to expand its fleet to 100 aircraft by 2015.

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