Juneyao Airlines has formally launched an initial public offering (IPO) on the Shanghai Stock Exchange to fund a fleet expansion. According to the Shanghai-based carrier, over the past three years it had a net income of CNY229 million ($37.4 million), CNY339 million and CNY415 million. In the 2015 first quarter, Juneyao posted a net profit of CNY267 million, more than doubling a net income of CNY101.5 million in the year-ago period. Launched in 2006, Juneyao has a registered capital of ...

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