VIETNAM - AirAsia to launch New Budget Airline

Asiatraveltips.com, 3 September 2007

AirAsia has signed a Letter of Intent with the Vietnam Shipbuilding Industry Group (VINASHIN), one of the largest state owned corporations in Vietnam with a legal capital of the Joint-Venture Company estimated at US$30 million.
The venture will see both parties establishing a low-cost airline in Vietnam based on AirAsia’s successful business model. The intended business for the venture will include securing the license to operate a new Vietnamese airline which will serve; domestic, regional and international routes.

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