JoyAir (JOY, Xi'an Xianyang) has partnered the Luzhou Government in setting up Joy Luzhou Air (Luzhou Yunlong), a regional Chinese carrier which plans to commence revenue operations in late 2016.
With registered capital of CNY1 billion (USD154.3 million), the carrier is a 70/30 joint venture between Joy Air Holdings Limited and two state-owned asset management firms based in the Luzhou and Jiangyang districts respectively.
As a subsidiary of China's state-backed aircraft manufacturer AVIC, Joy Luzhou Air will operate MA-600 and -700 turboprops alongside larger jet-powered aircraft. The objective is to grow the fleet to twenty aircraft by 2020 and forty aircraft in the long run.
