Hanoi: Malaysian budget airline AirAsia Bhd. Thursday said it will team up Vietnam state-owned corporation Vietnam Shipbuilding Industry Group, or Vinashin, to set up a low cost airline.
AirAsia will sign the letter of intent with Vinashin in Kuala Lumpur on Friday, the airline said in an invitation to media.
No other details were given and AirAsia officials couldn't be immediately reached for comment.
A senior official with Vinashin told Dow Jones Newswires in Hanoi Thursday that " Vinashin has plans to invest in low-cost airline services with a regional operator," and "at this moment it's still premature to say about any detail."
Vinashin is the largest shipbuilding company in Vietnam and is expanding its operations into other areas such as financial investment and transportation service, the official added. [30/08/07]
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