Spring Airlines’ low-cost subsidiary (LCC) Spring Japan will receive a capital injection of JPY18 billion ($151 million) from Japanese companies, according to Spring Japan CEO Wang Wei. Shanghai-based Spring Airlines holds a 33% stake in Narita-based Spring Japan—complying with Japanese law limiting foreign investors to one-third ownership—while other Japanese companies hold the rest. The Japanese businesses that will inject capital into the LCC include a Japan ...

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