AirAsia Shares Up On Signing Of MoU With Two Chinese Partners

KUALA LUMPUR, May 15 (Bernama) -- AirAsia Bhd's shares rose in early session Monday following a memorandum of understanding signed between the low-cost airline and two Chinese partners to set up a low-cost carrier in Zhengzhou, China. At 10.29, AirAsia share rose five sen to RM3.53 (US$0.81) with 2,734,300 million shares traded. The two Chinese partners are China Everbright Group and Henan Government Working Group to establish a low-cost carrier (LCC) in China. Under the deal, parties will incorporate a joint venture known as AirAsia China. AirAsia (China) will invest in aviation infrastructure, including a dedicated LCC terminal at Zhengzhou airport and an aviation academy to train pilots, crew and engineers, as well as maintenance, repair and overhaul (MRO) facilities to service aircraft. -- BERNAMA