Spring Airlines will expand fleet size by up to 30 planes

Spring Airlines Co, the Chinese budget airline owned by billionaire Wang Zhenghua, is in discussions with Airbus Group NV and Boeing Co to buy as many as 30 planes as travel demand surges in the country.

The Shanghai-based carrier plans to place an order this year, Vice-President Stephen Wang said in an interview in Singapore on Thursday. The order will include an option for 30 more aircraft.

"China is a huge market," Wang said. "The market has an even brighter future in the next decade. Budget carriers in China will have double-digit market share very soon from the current 5 percent."