Asia Bizz: One of Asia region’s low cost airlines, AirAsia, has launched AirAsia Philippines on the basis of joint venture between Filipino and foreign investors. The airlines is worth $25 million and has been launched with the intention to attract overseas Filipino workers and tourists, and also the people who have never flown on international airlines before.
The airlines will be operational from the month of August 2011, and will be providing the airlines industry the lowest air fares in the region. AirAsia Group CEO Dato’ Sri Dr. Tony Fernandes took the opportunity and said that his airlines will only need routes and they will survive on their own from there onwards.
Since many years the Asia Group has been trying to find a suitable partner who could fund them to start their airlines and in the year 2010 they have finally done so. As they commence operations in the month of August next year they hope to ferry more than 5 million passengers in the next five years, and plan out several new routes and destinations.
Source: MB
