Aviation News
- Shanghai News
Date: 29-Jan-2007 Sources: (Shenzhen Daily)
SPRING Airlines, a Chinese budget airline based in Shanghai, said Friday its sales revenues for last year reached 540 million yuan (US$69.41 million).
Spokesman Zhang Lei said the company operated 6,713 flights last year transporting 1.13 million passengers, and made a profit of more than 20 million yuan. Zhang attributed the success to the response to the company's budget travel strategy and slashing fares by an average of 61.8 percent since its launch in July 2005.
However, its budget travel strategy also run into regulatory problems. The company was fined 150,000 yuan by Jinan Price Bureau in East China's Shandong Province for selling more than 400 one-yuan tickets for flights between Jinan and Shanghai late last year.
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