AirAsia buys into Philippine competitor

AirAsia buys into Philippine competitorThe Philippine subsidiary of AirAsia, the region’s largest low-cost airline, has signed a deal to buy 49 per cent of Manila-based Zest Airways and 100 per cent of its parent holding Asiawide Airlines, according to a regulator filing submitted on March 11.

The deal is designed as a a share-swap with Filipino businessman Alfredo Yao, a major shareholder of Zest Airways and Asiawide Airways.

The arrangement will allow Philippines AirAsia to leverage on ZestAir’s operations out of the Ninoy Aquino International Airport in Manila, which handles the majority of air traffic in the Philippines, and tap into a strong domestic network which feeds into its current international routes.

Zest Airways currently flies to 14 domestic and 10 international destinations from its hubs in Manila, Kalibo and Cebu.
AirAsia Group has said it sees enormous growth potential in the Philippines, especially with a population of over 100 million people across an archipelago of over 7,000 islands, a landscape conducive for air transportation.

Philippines AirAsia, which started operations in 2012 and currently flies from Kuala Lumpur and Kota Kinabalu to Clark and from there to Kalibo and Davao, is a joint venture between AirAsia Investments Ltd. and Filipino investors Antonio O. Cojuangco, Michael L. Romero and Marianne Hontiveros.



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The Philippine subsidiary of AirAsia, the region's largest low-cost airline, has signed a deal to buy 49 per cent of Manila-based Zest Airways and 100 per cent of its parent holding Asiawide Airlines, according to a regulator filing submitted on March 11. The deal is designed as a a share-swap with Filipino businessman Alfredo Yao, a major shareholder of Zest Airways and Asiawide Airways. The arrangement will allow Philippines AirAsia to leverage on ZestAir's operations out of the Ninoy Aquino International Airport in Manila, which handles the majority of air traffic in the Philippines, and tap into a strong domestic...

AirAsia buys into Philippine competitorThe Philippine subsidiary of AirAsia, the region’s largest low-cost airline, has signed a deal to buy 49 per cent of Manila-based Zest Airways and 100 per cent of its parent holding Asiawide Airlines, according to a regulator filing submitted on March 11.

The deal is designed as a a share-swap with Filipino businessman Alfredo Yao, a major shareholder of Zest Airways and Asiawide Airways.

The arrangement will allow Philippines AirAsia to leverage on ZestAir’s operations out of the Ninoy Aquino International Airport in Manila, which handles the majority of air traffic in the Philippines, and tap into a strong domestic network which feeds into its current international routes.

Zest Airways currently flies to 14 domestic and 10 international destinations from its hubs in Manila, Kalibo and Cebu.
AirAsia Group has said it sees enormous growth potential in the Philippines, especially with a population of over 100 million people across an archipelago of over 7,000 islands, a landscape conducive for air transportation.

Philippines AirAsia, which started operations in 2012 and currently flies from Kuala Lumpur and Kota Kinabalu to Clark and from there to Kalibo and Davao, is a joint venture between AirAsia Investments Ltd. and Filipino investors Antonio O. Cojuangco, Michael L. Romero and Marianne Hontiveros.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

1 COMMENT

  1. The Philippine subsidiary of AirAsia, with the buy of 49 per cent of Zest Airways and 100 per cent of its parent holding Asiawide Airlines is going to help AirAsia grow even further. AirAsia is becoming a big competitor for airways in the ASEAN region, it will be interesting to see how other airlines in the region will perform in the market.

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