AirAsia Bhd will be bought out of Japan's economical airline cooperative by ANA Holdings Inc for 2.45 billion yen ($25.11 million). The update came from the Malaysian budget carrier who added that the deal will break up their loss-making bond to the said company after not more than two years.
"I remain positive on the Japanese market and believe there is tremendous opportunity for a low-cost carrier to succeed," AirAsia Group CEO Tony Fernandes stated, "We have not given up on the dream of changing air travel in Japan and look forward to returning to the market."
From August 2011, the business enterprise seated in Tokyo's main international airport located in Narita was unsuccessful in bringing around Japanese travellers. ANA Holdings, owner of about 67% of the enterprise, held AirAsia Japan to be responsible with the fiasco. It said that AirAsia made futile marketing plans and was ineffective due to the adverse booking website. However, AirAsia came to its defense and stated that issues regarding cost management and the venture's base should also be accounted for the disintegration.
Join the Conversation