Thursday, July 26, 2012

AirAsia plans to buy Indonesia's Batavia Air

JAKARTA: Low cost carrier AirAsia Bhd is set to buy Indonesian low cost carrier Batavia Air as it aims to expand in Southeast Asia's biggest economy, an executive at its Indonesian unit said on Thursday.

The move will likely lead to heightened competition among low cost carriers in Indonesia, including the nation's biggest, Lion Air, Mandala Air, controlled by private equity firm Saratoga Capital, and Citilink, a unit of flag carrier Garuda .

Communication Manager Indonesia AirAsia Audrey Progastama Petriny said the signing ceremony and press conference for the plan would be held later on Thursday in Jakarta.

Petriny declined to give any details about the plan, including the deal value and the structure.
"We shall announce the details later today," he said.

 Batavia Air confirmed the plan but declined to comment about details. - Reuters

Article taken from TheStar

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