AirAsia forms new LCC in Vietnam
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KUALA LUMPUR, 10 FEBRUARY 2010 - AirAsia is proud to announce its acquisition of a 30% equity stake in Vietjet Aviation Joint Stock Company (Vietjet Air) to establish a Vietnam-based joint venture low-cost airline which will carry the name Vietjet AirAsia.
The Ministry of Transportation of Vietnam approved the share acquisition on February 9 (Tuesday).
Vietjet AirAsia will be operating both domestic and international flights. It is currently finalizing details regarding routes, frequencies and launch of flights.
The formation of Vietjet AirAsia makes Vietnam AirAsia’s fourth country base, following Malaysia, Thailand and Indonesia.
AirAsia, Asia’s leading and largest low-cost airline, joined the venture to expand its reach in Vietnam and open the country as another gateway in the ASEAN region. The joint venture strengthens AirAsia’s position as THE ASEAN airline, expanding operations in the region, increasing intra-regional connectivity, and championing the ASEAN region as a tourism hub.
“The birth of Vietjet AirAsia contributes to the diversification of the aviation market in Vietnam, providing more options to meet the air travel needs of people in Vietnam and in the region,” Vietjet said.
Vietjet AirAsia will be tapping the expertise of both AirAsia and Vietjet Air for the successful operation and marketing of low-cost flights.
“The joint venture is a well-balanced combination of the management system, technical expertise, long-term experience in the airline industry, crew and international brand of AirAsia, and the financial strength, as well as Vietnamese market insights of VietJet Air,” Vietjet Air added.
AirAsia has informed Bursa Malaysia of its latest initiative.
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About VietJet Air
Licensed in the air transport sector in December 2007 with the initial capital of 600 billion dong, VietJet Air is the first and only aviation joint stock company in Vietnam permitted to operate both domestically and internationally. The founding shareholders of VietJet Air are the Sovico Holdings, HD Bank and experienced, dedicated experts in the civil aviation industry in Vietnam. VietJet Air is committed to giving customers the opportunity to experience high-quality, professional and safe air service, and respect, friendliness reflecting the cultural characteristics of Vietnamese people. The airline observes the operating principles for environmental protection and social responsibility to the community.
About AirAsia and AirAsia X
AirAsia is the leading and largest low-cost carrier in Asia. It is proud to be a truly Asean (Association of Southeast Asian Nations) airline with established operations based in Malaysia, Indonesia and Thailand. It services an extensive network of destinations stretching across the ASEAN region (Malaysia, Indonesia, Thailand, Cambodia, Laos, Myanmar, Vietnam, Singapore, Brunei, Philippines), mainland China, Hong Kong, Macau, India, Bangladesh, Sri Lanka and Australia. Through its low-cost long-haul affiliate AirAsia X, it is able to reach more destinations in China, Taiwan, Australia and the UK. Both AirAsia and AirAsia X have carried more than 85 million guests to date and have approximately 90 aircraft. AirAsia was named the 2009 World’s Best Low Cost Airline in the annual World Airline Survey by Skytrax, and AirAsia and AirAsia X were named joint winners of the Centre for Asia Pacific Aviation (CAPA) Airline of the Year Award for 2009.
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