[photopress:juneyao2.jpg,full,alignright]JuneYao Group, China’s first privately-owned airline, plans to list its aviation interests in 2010.
Chief Executive Bryan Huang said, ‘2010 is the best time for us. The Shanghai World Expo will be held that year, and a possible recovery in stock markets would give us more choice: we could either list in China or in Hong Kong.’
Juneyao said in April that its unit, JuneYao Air, had sold a 25% stake to an unidentified foreign investor for $100 million. Bryan Huang said the investment still awaits government approval.
China opened its state-monopolised aviation industry to the private sector in 2004 and now has over 10 carriers like JuneYao Air, which operates 27 regional routes to cities including Kunming, Haikou, Hangzhou and Harbin. JuneYao Airlines was authorized by General Administration of the Civil Aviation of China and Shanghai Municipal Government in June 2005 with a registered capital of RMB 150 million.
[photopress:juneyao1.jpg,full,alignleft]Shanghai JuneYao Airlines imported three Airbus A320 family aircraft in 2006 and made its maiden commercial flight in September.
JuneYao Air will expand its fleet to 40 by 2010 and has ordered six Airbus A320 planes for delivery next year.
JuneYao Group also took a controlling stake in Okay Airways in early 2006, and has bought more than 30% of Chengdu-based United Eagle Airlines, another privately owned carrier.