春秋航空管理理念（Management concept of spring and Autumn Airlines）.doc

春秋航空管理理念（Management concept of spring and Autumn Airlines） Since its establishment in 2004, it has taken nearly 10 years for Spring Airlines to move towards the capital market. Recently, the Spring Airlines officially announced on the Commission website, will not issue more than 100 million shares of public offering, and intends to be listed on the Shanghai Stock exchange. According to the prospectus instructions, the Spring Airlines will raise funds for the purchase of 9 A320 aircraft, fleet expansion; buy 3 aircraft flight simulator, flight training; and to supplement working capital, total funding of 2 billion 530 million yuan. At present, Spring Airlines has 40 aircraft, of which 14 have been purchased in place, and the rest are leased aircraft. In 2013, Spring Airlines purchased 30 Airbus A320 aircraft at one fell swoop, and signed a $300 million loan agreement with the CDB, which will be launched in 2015-2017 years. According to the plan, the size of the Spring Airlines fleet is expected to reach 100 in 2018, and has 150 flight simulator. For rental aircraft started, over the years light assets business model of Spring Airlines, the listing is completed to the heavy assets transformation of the road. In the industry view, the global aviation industry will continue to slump, choose at this time listed obviously can not be a good opportunity, but for the airline assets and high debt, the introduction of the aircraft cost hundreds of billions of yuan, through the listing, is undoubtedly the relatively low cost of financing. And the development of boat enterprise also needs to expand market share through scale effect. Zhang Wuan, a spokesman for Spring Airlines, told the new financial correspondent that the company has always focused on cash flow control and has plenty of money. Last year we had 1 billion 500 million yuan in cash flow. Listing was not short of money.. But in the capital market, after all, it helps us. The future will also take into account oversea