Air Asia terminates Vietnam plan

AirAsia Investment Ltd with its partners Gumin Company Ltd and Hai Au Aviation Joint Stock Company have agreed to terminate the agreement to set up a joint venture in Vietnam.

The airline company said Air Asia Investment, Gumin and Hai Au Aviation have amicably agreed to terminate and release each other from all obligations under the transaction agreements in relation to the proposed joint venture in Vietnam. "The company nonetheless, remains interested in operating a low-cost airline in Vietnam due to its favourable geographical location, expanding aviation market and overall growth potential."