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VietNamNews

AirAsia scraps venture with VietJet Air

Update: October, 14/2011 - 11:50

HA NOI – The Asia's biggest budget carrier AirAsia has announced on the Kuala Lumpur Stock Exchange that it had called off a proposed joint venture with VietJet Air, Viet Nam's first private low-cost carrier.

AirAsia said the main reason for its decision was that the two sides had failed to reach an agreement with the Vietnamese Government concerning the use of the VietJet AirAsia brand name.

In February, the Malaysia-based budget carrier announced it had bought a 30 per cent stake in VietJet Air with the aim of setting up a Viet Nam-based low-cost airline to be called VietJet AirAsia. – VNS

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