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Spring Airlines controlling shareholder pledges more shares for debt repayment

October 22, 2025 at 05:13 AM UTCBy FilingReader AI

Spring Airlines announced that its controlling shareholder, Shanghai Spring International Travel Service (Group) Co., Ltd. (Spring International Travel), has pledged a portion of its shares in the company. As of October 21, 2025, Spring International Travel notified the company of two separate share pledges completed on October 17 and October 20, 2025. These pledges involve a total of 11,800,000 unrestricted circulating shares, with 9,600,000 shares pledged to Zhongyuan Trust Co., Ltd. and 2,200,000 shares pledged to Yunnan International Trust Co., Ltd. The purpose of these pledges is to provide security for loans from financial institutions, specifically for the repayment of existing borrowings.

Spring International Travel holds 504,000,000 shares in Spring Airlines, representing 51.52% of the company's total share capital. Following these transactions, the cumulative pledged shares by Spring International Travel amount to 45,400,000 shares. This figure accounts for 9.01% of its total holdings in Spring Airlines and 4.64% of the airline's total share capital. The company clarified that the pledged shares are not intended for use in performance compensation related to major asset restructurings or other guarantee purposes.

Spring International Travel maintains a strong credit profile and has sufficient capacity to repay its debts, with repayment sources including its own funds, investment income, and operating revenue. The company assures that the pledge risk is manageable, with no immediate risk of liquidation or forced sale, nor will it lead to a change in the company's actual control. Should the share price approach warning levels, Spring International Travel would implement measures such as early repayment or providing additional pledged shares.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

SSE:601021Shanghai Stock Exchange
Airlines

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