Saturday, December 18, 2010

AirAsia establish LOW COST airline in Philippines


The airline company AirAsia, announced a cooperation agreement between the AA International Ltd, a subsidiary of AirAsia (with full ownership), with Antonio O. Cojuangco Jr.., Michael R Romero, and Marianne B. Hontiveros to set up another low cost airline company with a base of operations in the Philippines.

Ownership shares of AirAsia to AirAsia Inc., through AirAsia International Limited, will be at numbers 40 percent, while the remaining 60 percent stake will be divided evenly between Antonio O. Cojuangco Jr.., Michael R Romero, and Marianne B.Hontiveros.

The joint venture company will named AirAsia Inc.. AirAsia Inc. will maximize the advantages of the AirAsia in order to penetrate the Chinese market, Korea and Japan via the Philippines, without leaving the focus on key markets in Singapore, Hong Kong, and Taiwan.

"We are proud to be able to apply proven business model of AirAsia's success more broadly to the Philippines. In a short time, Philipines residents have the opportunity to travel to and abroad with an affordable cost. This is a right to provide easy access for all people in the Philippines that will ultimately hope will lead to more rapid economic growth, as happened in other countries where AirAsia has been operating, "said Group CEO of AirAsia, Dato Sri Dr Tony Fernandes on Friday (17/12/2010) in Manila.

With the addition of a new operating sector, the ASEAN region which encroached by AirAsia will be global. Choice of flight routes and destinations will be more and more. Therefore, AirAsia's route network more reliable.
With 140 routes to 65 destinations and more than 400 flights every day, AirAsia connects major cities in ASEAN as well as providing flights to places that have a rich unique history, exotic beaches, the region with beautiful nature, and centers leading entertainment.

With the connecting points in Malaysia, Indonesia and Thailand, AirAsia not only connects the ASEAN region alone, but more broadly to the Australia, Asia, and Europe. Ease of travel by the best airline category will be more cost effective to strengthen unity among the diverse communities in ASEAN and promote economic growth through tourism and trade activities.

AirAsia Berhad started its flights to destinations in the Philippines since April 2005. Currently, AirAsia has two daily flights to Clark, from Kuala Lumpur and from Kota Kinabalu in Sabah.