The China Securities Regulatory Commission has approved Juneyao Airlines to receive CNY3.57 billion ($543 million) for fleet expansion. Out of the total, CNY2.7 billion would be used to purchase four Airbus A320s, three spare engines and two simulators. Also, CNY500 million would be used to pay off bank loans and the remaining CNY165 million would be used to launch an online travel agency with a Chinese travel company in which Juneyao would hold a 55% stake. The Shanghai-based carrier ...

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