China Express IPO approved

China Express Airlines Co Ltd, China's only airline focused on regional operations with both passenger and freight air transportation, received approval from the China Securities Regulatory Commission this week for a potential initial public offering.

Chongqing-based China Express is expected to become the first listed regional carrier, which would also make it the seventh airline company listed on the A-share market. Founded in 2006, China Express has established five operation bases, including those in Guiyang, Dalian and Xi'an.

In June last year, regional flights accounted for 96 percent of the company's more than 80 total routes.