Japanese firms are to invest around JPY18bn ($151m) in low-cost carrier Spring Japan, according to the airline’s CEO.
Wang Wei confirmed that a number of domestic companies including real estate and electronics firms have raised the capital to invest in the airline, which was setup in 2014 as a subsidiary of China’s Spring Airlines operating an all-737 fleet.
Spring Airlines owns 33 per cent of the LCC due to Japanese law limiting foreign ownership of its firms to one-third.
At the announcement on Tuesday (January 5), Wei also confirmed that Spring Japan has received approval from the country's aviation regulator to start operating international routes.