AirAsia has announced 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.
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