It is, according to AirAsia, the final piece in its business puzzle. The Malaysia-based group has agreed with Chinese state partners to set up a local franchisee airline. State-owned conglomerate China Everbright and the provincial government of Henan will take unspecified roles in the new carrier, which will be called AirAsia (China). Shareholdings by both are likely, especially since a foreign company cannot own most of the equity of a Chinese airline. The three partners signed a ...

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