AirAsia seen launching joint venture in Vietnam later this year
Monday, March 5,2018
AsemconnectVietnam - Malaysian budget airline AirAsia Bhd plans to launch a joint venture in Vietnam later this year.
AirAsia’s new carrier may operate in the second half of this year after obtaining necessary approval.
Earlier, AirAsia clinched an agreement with Hanoi-based Gumin Company Ltd and Hai Au Aviation Joint Stock Company to form a venture, according to Malaysian media reports.
The venture would have paid-up chartered capital of around VND1 trillion (US$44 million). Of the total, Gumin will hold almost 70% while 30% will belong to AirAsia Investment Ltd, a unit of AirAsia Bhd.
Group CEO Tony Fernandes was cited by the Aviation Week Network as saying that one of AirAsia’s goals is to “continue to grow our presence and market share” in Southeast Asia.
He described the planned airline in Vietnam as “the final piece of the puzzle to complete our ASEAN connectivity.”
AirAsia said its four ASEAN carriers – one in Malaysia, one in Thailand, one in Indonesia and one in the Philippines – and its Indian affiliate reported operating profits in the fourth quarter of 2017.
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Source: Thesaigontimes.vn
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