AirAsia’s Philippines Unit To Buy 49% Of Rival Zest Air

AirAsia Philippines, a joint-venture company of Malaysian carrier AirAsia, has agreed to buy 49% of rival low-cost carrier Zest Air. In a statement to the Kuala Lumpur stock exchange, AirAsia says AirAsia Philippines will acquire 49% of Manila-based Zest Air and 100% of Asiawide Airways, the company...

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