Spring Airlines is the undisputed leader in China's low-cost carrier (LCC) market, experts say, as the government focuses on boosting the sector's untapped potential to meet booming travel demand.
"Spring was really the only low-cost carrier in China until this year when the government began using it as the popular model for other airlines to base themselves on," Peter Harbison, executive chairman at CAPA (Centre for Aviation) told CNBC on Wednesday.
The 10-year-old company enjoyed an impressive debut on the Shanghai Composite on Wednesday, with shares surging 44 percent in an initial public offering (IPO) that was more than 163 times oversubscribed.
The airline reported a 95 percent average load factor last year, the highest among all Chinese carriers, Reuters reported. According to Maybank, the carrier's success partly derives from its dedication to the China market.
Read MoreWhy we still can't track an airplane
With routes primarily focused on greater China, Japan and Korea, the company is focusing on where Chinese customers want to go, which is North Asia, says Mohshin Aziz, aviation analyst at Maybank Investment Bank.
"CEO Xiuzhi Zhang is carrying a China-centric LCC strategy. There is absolutely no emphasis on Southeast Asia, unlike other Asian budget carriers. His priorities remain right on China," Aziz added.