AirAsia Philippines (Angeles City, Pampanga-Clark International Airport) has agreed to acquire all of the shares Zest’s affiliate Asiawide Airways from Alfredo Yao, vice chairman of Export and Industry Bank Inc. and the Zest-O Corporation. This acquisition will give AirAsia 40 percent of the shares of Zest Air (Zest Airways) (Manila). In return, Yao will get a 15 percent share in closely held AirAsia (Kuala Lumpur) according to this report by Bloomberg.Each airline, both former competitors, will now operate separately but will be aligned with each other.
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Top Copyright Photo: Terry Wade. AirAsia’s (AirAsia.com) (Philippines) Airbus A320-216 RP-C8191 (msn 4989) is seen at London (Gatwick) prior to the delivery.
Middle Copyright Photo Below: AirAsia. AirAsia and Zest Air officials celebrate the new association.
Bottom Copyright Photo: Manuel Negrerie. Zest Air’s (Zest Airways) Airbus A320-232 RP-C8994 (msn 743) climbs away from Taipei (TPE).