AirAsia won't buy Valuair

Sat, 23 Jul 2005 | Source: AP

HONG KONG: Malaysia's AirAsia Bhd., Southeast Asia's biggest budget airline, said on Friday that it had decided not to buy Singapore rival Valuair.

"We have considered it, but we decided that we are not going into Valuair. It doesn't fit with our business model," AirAsia Chief Executive Tony Fernandes said.

Fernandes also said AirAsia is still talking to the Hong Kong Airport Authority about opening flights to the city, but an outcome isn't expected soon. -- AP

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