Spring Airlines (9C, Shanghai Hongqiao) is looking to establish its own aircraft leasing arm the carrier's finance manager, Tian Chao, has said. Speaking to Bloomberg news, Tian said his company would offer competitive rates by leveraging the Shanghai free-trade zone's lower tax rates to reduce costs.

"The main purpose is to help our company reduce costs," he said. "We have been in talks with other possible clients in the mainland and overseas, but that's not an immediate priority."

Tian said that the subsidiary will be supplied with aircraft from the Chinese LCC's existing order book before adding that there are no plans at present to order additional aircraft.

At present, Spring Airlines operates 45 A320-200s with its Spring Airlines Japan (Tokyo Narita) subsidiary operating three B737-800s.