Vietnam Joint Venture

BackFeb 25, 2010
Type Announcement
Subject AirAsia Berhad
Vietnam Joint Venture
Contents Following the announcement on 10th February 2010 by AirAsia Berhad (“AirAsia” or “the Company”) on the above matter, we wish to update that as at 25th February 2010, the Company is still awaiting the fulfillment of certain conditions precedent to the Share Purchase Agreement and the Shareholders Agreement namely the approval by the Vietnamese authorities for the following:

a) the trade name of the joint venture company to be changed from Vietjet Aviation to Vietjet AirAsia; and
b) the jointly agreed logo of the joint venture company.

The approvals are expected to be obtained within the next two months.

The Company will also require a satisfactory outcome of a financial due diligence exercise that it will undertake on VietJet Aviation prior to completion of the transaction.

The Company has, on an ongoing basis been working closely with Vietjet Aviation and its personnel on various operational and commercial matters. This is in view of the projected commencement of operations scheduled between April and June of 2010.

This announcement is dated 25th February 2010.



Announcement Info

Stock Name AIRASIA    
Date Announced 25 Feb 2010  
Category General Announcement
Reference No CMC-100224-D0C64