Juneyao Airlines (Shanghai Hongqiao) has been given the go-ahead by the central and southern regional branch of the Civil Aviation Administration of China (CAAC) to proceed with the founding of its new Low Cost carrier, Jiu Yuan Airlines (Guangzhou). According to the airline's filings, Jiu Yuan Airlines ("9 Yuan Airlines") is a joint venture between Juneyao Airlines (69%), Elion Resources Group (15%), Macrolink Group (10%) and Juneyao VP, Ji Guangping with 6%. Based out of Guangzhou, the LCC will operate Airbus A320 aircraft.