AirAsia (AirAsia.com) (Kuala Lumpur) is acquiring a 30 percent share of newcomer VietJet Air (Hanoi) according to Flightglobal. The government approved the deal on February 9. The new entry has been proposing to operate new service to compete against flag carrier Vietnam Airlines since April 2009.

The upstart low-cost airline will operate under the AirAsia brand and will be formally known as VietJet AirAsia.

Here is the full article:

www.flightglobal.com/articles/2010/02/11/338286/airasia-buying-30-of-vietjet.html