SHANGHAI: Spring Airlines, a privately run Chinese carrier, is delaying a planned Shanghai initial public share offering until next year or the year after from this year, awaiting better market conditions, its chairman said.

Wang Zhenghua told a news conference on Tuesday that he remained committed to an IPO in the domestic market to fund an aggressive expansion of its aircraft fleet.

“An IPO is a must for us,” he said. “I am very confident of the airline market but we need an astronomical amount of money.” reuters