AirAsia calls off proposed Vietnamese JV
October 13, 2011 00:00:00
KUALA LUMPUR, Oct 12 (Reuters): Malaysian-based budget carrier AirAsia Bhd said Tuesday it had decided not to proceed with a proposed joint venture with Vietjet Aviation Joint Stock Company.
AirAsia said in a filing to the Kuala Lumpur stock exchange that it had decided to let the joint venture agreement lapse as Vietjet failed to obtain regulatory approval from the Vietnamese authorities to use the AirAsia brand on its commercial operations.
