Air Asia will order 25 new Airbus planes
Our Corporate Bureau
01 September 2007
Officials estimate the purchase cost to be around $1.6 billion, based on the plane's list price. Malaysia-based Air Asia posted a 41.5 per cent increase in fourth-quarter profits, on 30 August.
The airline it will team up with the state-owned Vietnam Shipbuilding Industry Corporation (Vinashin) to form Vina AirAsia, in a $30 million deal. Vinashin is presently into shipbuilding, finance, property development and banking. It will hold a majority stake in the new airline, its first aviation venture.
A formal contract will be signed on 20 September. The new airline will begin operations in July 2008, flying to southern China from Hanoi.