Tuesday, August 11, 2009

AirAsia scraps plan for Viet budget carrier

11 Aug 2009

LOW-COST carrier AirAsia Bhd has scrapped a plan to partner Vietnam Shipbuilding Industry Group to set up a budget carrier in Vietnam.

It terminated a letter of intent (LOI) signed by both parties almost two years ago, it said in a statement to Bursa Malaysia yesterday.

“As a matter of formality, AirAsia has through a letter dated August 10 2009 informed Vinashin that the LOI is now of no further effect save for confidentiality provisions which the parties had agreed to upon signing the LOI,” said AirAsia.

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