(MENAFN) China's largest low-cost carrier Spring Airlines announced plans to raise USD735 million in a new fund to purchase 21 Airbus A320 planes, Xinhua reported.
More than 80 percent of the money raised will be spent on the purchase of the Airbus planes, the rest will be used to improve inflight WiFi, upgrade IT and build its online ticket sales platform.
Amid continuous demand in China's domestic aviation market, several carriers have raised money to increase capacity. China Easter Airlines raised USD2.44 billion and Juneyao Air raised USD 587.78 million.
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