Juneyao Airlines

Juneyao Air announced that in June, the company's passenger capacity, measured by available seat kilometres, rose 0.78% year-on-year. Over the same period, passenger traffic, measured by revenue passenger kilometres, increased 1.21% year-on-year, with the load factor reaching 87.09%, up 0.38 percentage points from a year earlier.

Juneyao Airlines announced that its board of directors has approved a repurchase plan, under which the company will use its own funds to repurchase shares through centralized bidding. The total amount will be no less than 400 million yuan and no more than 800 million yuan. The repurchased shares will be used entirely for employee stock ownership plans or equity incentives. The repurchase price will not exceed 15.00 yuan per share, and the repurchase period will be within 12 months from the date of board approval. Based on the lower limit of the repurchase amount and the upper limit of the price, the company expects to repurchase approximately 26.67 million shares, accounting for about 1.23 percent of the total share capital. Based on the upper limit of the repurchase amount and the upper limit of the price, it expects to repurchase approximately 53.33 million shares, accounting for about 2.46 percent of the total share capital. The company stated that this move aims to safeguard the interests of the company and investors, improve the long-term incentive mechanism, and stimulate the enthusiasm of core management personnel and outstanding employees.