Spring Airlines (9C, Shanghai Hongqiao) has been given the go-ahead by the China Securities Regulatory Commission (CSRC) to proceed with its planned IPO due on the Shanghai Stock Exchange before the end of the year. A previous application earlier this year was rejected when a CSRC audit of the LCC raised concerns over the airline's disproportionately high profits as compared to state subsidies received.

The Chinese budget carrier hopes to raise CNY2.53billion (USD412million) in the offering with funds to be used in the acquisition of "up to" nine Airbus A320s and three Airbus flight simulators as well as supplementing its working capital.

With the recent successful launch of its Spring Airlines Japan (Tokyo Narita) subsidiary, Spring is also considering venturing into the long haul market with possible European and North American flights to operate on-board a fleet of A330s.