DEE-DUCK
9th Jul 2005, 09:31
BUDGET carriers Valuair and Jetstar Asia have denied market rumours that a proposed merger has been called off, saying that "the talks are still ongoing".
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After news of the merger discussions broke last week, speculation had been rife that a deal would be inked as early as this week. When that failed to materialise, rumours surfaced that the deal had been called off because Qantas — the parent firm of Jetstar Asia — insisted on dominating the management of the new entity. This is thought to have met resistance from Valuair founder and chairman Lim Chin Beng, sources said.
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However, when contacted by Today on Friday, both Valuair and Jetstar Asia said that the talks were ongoing.
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Valuair executive director Arthur Lim said: "Aviation is a complex business. We still have a lot to discuss. But it is not off." He declined to give a timeline for an agreement to be reached.
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Any deal also needs to be approved by Valuair's largest shareholder, Malaysian-listed Star Cruises. — Val Chua BUDGET carriers Valuair and Jetstar Asia have denied market rumours that a proposed merger has been called off, saying that "the talks are still ongoing".
.
After news of the merger discussions broke last week, speculation had been rife that a deal would be inked as early as this week. When that failed to materialise, rumours surfaced that the deal had been called off because Qantas — the parent firm of Jetstar Asia — insisted on dominating the management of the new entity. This is thought to have met resistance from Valuair founder and chairman Lim Chin Beng, sources said.
.
However, when contacted by Today on Friday, both Valuair and Jetstar Asia said that the talks were ongoing.
.
Valuair executive director Arthur Lim said: "Aviation is a complex business. We still have a lot to discuss. But it is not off." He declined to give a timeline for an agreement to be reached.
.
Any deal also needs to be approved by Valuair's largest shareholder, Malaysian-listed Star Cruises. — Val Chua
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Lets hope for a successful outcome.. For the sake of both Airlines
.
After news of the merger discussions broke last week, speculation had been rife that a deal would be inked as early as this week. When that failed to materialise, rumours surfaced that the deal had been called off because Qantas — the parent firm of Jetstar Asia — insisted on dominating the management of the new entity. This is thought to have met resistance from Valuair founder and chairman Lim Chin Beng, sources said.
.
However, when contacted by Today on Friday, both Valuair and Jetstar Asia said that the talks were ongoing.
.
Valuair executive director Arthur Lim said: "Aviation is a complex business. We still have a lot to discuss. But it is not off." He declined to give a timeline for an agreement to be reached.
.
Any deal also needs to be approved by Valuair's largest shareholder, Malaysian-listed Star Cruises. — Val Chua BUDGET carriers Valuair and Jetstar Asia have denied market rumours that a proposed merger has been called off, saying that "the talks are still ongoing".
.
After news of the merger discussions broke last week, speculation had been rife that a deal would be inked as early as this week. When that failed to materialise, rumours surfaced that the deal had been called off because Qantas — the parent firm of Jetstar Asia — insisted on dominating the management of the new entity. This is thought to have met resistance from Valuair founder and chairman Lim Chin Beng, sources said.
.
However, when contacted by Today on Friday, both Valuair and Jetstar Asia said that the talks were ongoing.
.
Valuair executive director Arthur Lim said: "Aviation is a complex business. We still have a lot to discuss. But it is not off." He declined to give a timeline for an agreement to be reached.
.
Any deal also needs to be approved by Valuair's largest shareholder, Malaysian-listed Star Cruises. — Val Chua
............................................................ .....................................
Lets hope for a successful outcome.. For the sake of both Airlines