Shanghai-based Juneyao Airlines plans to take advantage of more aggressive Chinese aviation reforms with the formation of a new low-cost carrier called Jiuyuan Airlines. Plans call for the new joint venture between Juneyao and three private investors to start operations in August. Privately held Juneyao holds a 69-percent stake in the new carrier, whose registered capital base totals $96 million. Based in Guangzhou, Jiuyuan translates in English to “Nine Yuan,” reflecting starting fares of $1.46.
CFM International is set to head home from the Farnborough International airshow with some $12.6 billion in new engine sales—nearly doubling its 2012 order book. One dozen different clients—a mix of airlines and leasing groups—signed for nearly 1,000 of the new Leap family engines.