Aug 9, 2011
As reported in Aerospace Diary, budget airline AirAsia will acquire 20.5 percent of flag carrier Malaysia Airlines in a share swap.
Under the deal, Malaysia's state investment arm Khazanah Nasional, which held nearly 70 percent of the national carrier before the deal, will get a reciprocal 10 percent stake in Tune Air, AirAsia's parent company.
The appointments are with effect from August 11.
Together with the above, Malaysian Airline System, AirAsia Berhad and AirAsia X have entered into a Comprehensive Collaboration Framework which includes a Collaboration Agreement to explore opportunities to co-operate on a broad range of areas.
Under the CCF, all parties will strive to complement each other’s businesses so as to leverage on their respective core competencies and optimise efficiency for the benefit of consumers.