Airline Industry and Aviation Safety News from Flightglobal
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Excerpt from the article:
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Malaysia-based low-cost carrier AirAsia will set up a new joint venture carrier in the Philippines, which will begin operations in the third quarter of 2011.
It will hold a 40% stake in the carrier through its wholly-owned subsidiary AirAsia International, says the carrier. Philippine investors Antonio O. Cojuangco Jr, Michael R. Romero and Marianne B. Hontiveros will own the remaining 60%, with each individual holding a 20% stake."...
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This is great news for the region. AA does for sure have a nice product coupled with cheap fares...win-win for the travellers in the Philippines!
Always nice to have a competing product. ...needless to say GREAT employment avenue for the locals!
