AirAsia Terminates Vietnamese Airline Plans

April 17, 2019

Bookmark and Share

AirAsia has abandoned plans to establish a low cost airline with joint venture partners in Vietnam.

AirAsia Terminates Vietnamese Airline JV Plans

The JV, with Vietnamese companies Gumin and Hai Au Aviation, has been terminated, the Malaysian airline group said in a statement.

AirAsia said the termination of the joint venture does not need shareholder approval and isn't expected to have a financial impact on the net assets or gearing of the company.

The airline said it is still interested in operating a low-cost airline in Vietnam because of its geographical location, expanding aviation market and overall growth potential.

(Airwise)