AirAsia JV in Vietnam gears up for take-off

AirAsia is on its way to starting a Vietnamese carrier in a joint venture with local partners by early 2018 as income and passenger traffic from the country surge.

The venture will need investments of one trillion Vietnamese dong (US$44 million), and will see Gumin Company, Hai Au Aviation and businessman Tran Trong Kien owning a 70 per cent stake and AirAsia the remaining 30 per cent.

The Malaysia-based LCC already has affiliates in Indonesia, Thailand, India and Japan, as well as the AirAsia X unit which targets longer-haul travel.

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