• SENSEX
    NIFTY 50
Aviation

Malaysia's AirAsia drops joint venture plan to set up base in China

Updated : August 31, 2018 12:33 PM IST

The Malaysian airline had signed a preliminary agreement last year with Chinese state-backed financial firm Everbright Group and Henan province to set up a low-cost aviation base in Zhengzhou.
But in a statement on Thursday, AirAsia said the memorandum of understanding with Everbright and Henan government had lapsed and "will not be extended". It did not say why.
AirAsia Group CEO Tony Fernandes had last year described the joint venture plan as "the final piece of the AirAsia puzzle".
Malaysia's AirAsia drops joint venture plan to set up base in China
primo org
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more

You May Also Like

Live TV