Spring Airlines Japan [IJ/SJO] received a 900 million JPY capital injection on December 22nd, according to Traicy. Cash was raised by third-party allocation of new shares, the amount of which was increased by 30%. Total capital now stands at 6.9 billion JPY, and the number of shares increased from 600,000 to 780,000. Japan's newest LCC has not released who bought the new non-voting stocks, however, parent Spring Airlines [9C/CQH] is most likely.
As far as voting rights are concerned, Chinese LCC Spring Airlines [9C/CQH] controls 33%, the maximum possible under foreign ownership rules of Japanese airlines. The remainder is held by venture capital Skystar Financial Management, Pachinko-slot manufacturer Yamasa, Ibis LCC Investment Partners, Spring Airlines Japan Investment Partners, SMBC Venture Capital, as well as Japan's largest travel agency JTB (Spring Airlines Japan to launch services on June 27th.).
The Tokyo/Narita [NRT/RJAA]-based LCC only launched service last year on August 1st (Spring Airlines Japan commences operations.). It currently operates twice daily to Hiroshima [HIJ/RJOA] and once daily each to Saga [HSG/RJFS] and Takamatsu [TAK/RJOT] using three 189-seat Boeing 737-800s. Its system-wide load factor for the 2014/2015 peak new year holiday season was 64.6%, probably well below the breakeven line.
Spring Japan was reported to be planning regional international flights to China from Spring 2015 (Spring Japan considering Chongqing and Wuhan.) along with its fourth domestic route to Sapporo/New Chitose [CTS/RJCC] (Spring Japan eyes Sapporo and China in 2015.), however, nothing official has been released as of yet.
Source: Traicy, January 16th. (in Japanese)
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| Boeing 737-86N(WL) JA03GR is leased from GECAS. Spring Japan's original plans call for five new aircraft each year for a fleet of 20 by 2017. (Photo: Spring Airlines Japan) |
As far as voting rights are concerned, Chinese LCC Spring Airlines [9C/CQH] controls 33%, the maximum possible under foreign ownership rules of Japanese airlines. The remainder is held by venture capital Skystar Financial Management, Pachinko-slot manufacturer Yamasa, Ibis LCC Investment Partners, Spring Airlines Japan Investment Partners, SMBC Venture Capital, as well as Japan's largest travel agency JTB (Spring Airlines Japan to launch services on June 27th.).
The Tokyo/Narita [NRT/RJAA]-based LCC only launched service last year on August 1st (Spring Airlines Japan commences operations.). It currently operates twice daily to Hiroshima [HIJ/RJOA] and once daily each to Saga [HSG/RJFS] and Takamatsu [TAK/RJOT] using three 189-seat Boeing 737-800s. Its system-wide load factor for the 2014/2015 peak new year holiday season was 64.6%, probably well below the breakeven line.
Spring Japan was reported to be planning regional international flights to China from Spring 2015 (Spring Japan considering Chongqing and Wuhan.) along with its fourth domestic route to Sapporo/New Chitose [CTS/RJCC] (Spring Japan eyes Sapporo and China in 2015.), however, nothing official has been released as of yet.
Source: Traicy, January 16th. (in Japanese)
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