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AirAsia plans joint venture in Vietnam for regional expansion

KUALA LUMPUR (NewsRise) - AirAsia, Asia's largest budget airline by fleet, plans to establish a low-cost carrier in Vietnam with local partners as it seeks to expand its regional foot print by tapping into one of the world's fastest-growing aviation markets.

The company is partnering Gumin Company, a firm controlled by Vietnamese businessman Tran Trong Kien, to form the joint venture, AirAsia said in a stock exchange filing. Under the pact, Gumin and Tran will together hold a 70% stake in the joint venture Hai Au Aviation with AirAsia owning the remainder 30%.

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