Juneyao Airlines (Shanghai Hongqiao) has filed an application with the Civil Aviation Administration of China (CAAC) to establish its own low-cost carrier, Jiu Yuan Airlines (Guangzhou), to be based out of Guangzhou, the company's president Wang Junjin has told WCARN. Jiu Yuan (English: "9 Yuan") stands for the CNY 9 (USD1.46) starting fare the airline plans to offer. Mr Wang said the new subsidiary will be a joint venture between Juneyao Airlines and CTI and will focus on the Pearl River Delta region. Using a fleet of thirty-two A320-200s and a single A321-200, Juneyao offers flights to Thailand, Taiwan, South Korea, Hong Kong and Macau in addition to its extensive Chinese domestic network.