AirAsia sets up budget airline in Vietnam

AirAsia Bhd will sign a letter of intent with Shipbuilding Industry Group ( Vinashin) as a first step towards business cooperation between both parties for the setting up of a joint venture low-cost airline in Vietnam based on the successful AirAsia business model. The new airline will carry the name VINA AIRASIA, but AirAsia will retain full proprietary rights to the use of the name “AirAsia”.