Malaysian low-cost carrier group AirAsia has finalized plans to establish a joint-venture carrier in the Philippines. The formal announcement of the new carrier has been expected for several days. AirAsia Philippines will reportedly operate from either Clark or the Subic former U.S. military airfield near Manila. The airline aims to start flying in 2011’s third quarter, subject to regulatory approval, says AirAsia, which will have a 40% stake in the venture. The other 60% share ...

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