Spring to buy 21 Airbus planes for 12.45b yuan

Shanghai

CHINESE budget carrier Spring Airlines said it plans to buy 21 Airbus A320 planes for 12.45 billion yuan (S$2.7 billion), citing growth in both international and domestic air travel.

The Shanghai-listed company plans to fund the purchase in part through a private placement of shares to raise 4.5 billion yuan, according to a statement to the exchange late on Monday.