Take Zest Air to their fold
March 11, 2013
March 11, 2013
 |
| Air Asia Berhad is buying all the minority stake in Zest Airways as Air Asia Group bids to create a stronger presence at Ninoy Aquino International Airport and break the current duopoly between PAL and Cebu Pacific. Alfredo Yao is expected to keep majority ownership of ZestAir under a joint venture agreement similar to Tata Sons Ltd. starting a low-cost airline in India, but will cede management control to the Malaysia-based airline conglomerate. The deal is expected to consolidate operations between Air Asia Philippines and Zest Air across the country under a common brand. |
