Spring Airlines Japan (Tokyo Narita) raised JPY900 million (USD7.62 million) through a private rights issuance held with an unknown investor in December last year. According to the ZipanguFlyer blog, the budget carrier's total shareholding has increased by 30% from 600,000 to 780,000 shares while its total capital now stands at JPY6.9 billion (USD58.41 million).
Overall, Chinese parent Spring Airlines (9C, Shanghai Hongqiao) controls 33%, the maximum permissible under Japanese law, while the remainder is held by venture capital firm, Skystar Financial Management, Pachinko-slot manufacturer Yamasa, Ibis LCC Investment Partners, Spring Airlines Japan Investment Partners, SMBC Venture Capital, and Japan's largest travel agency JTB.
Launched in June last year, the LCC operates three B737-800s on flights connecting Tokyo Narita with Hiroshima International, Saga, and Takamatsu.
