AirAsia Berhad ("AirAsia" Or "The Company") - Termination Of Lease Agreements All Dated 28th July 2006 (Collectively "Lease Agreements") Between Penerbangan Malaysia Berhad ("PMB") And AirAsia; And - Termination Of Memorandum Of Understanding ("MOU") Dated 31st July 2006 Between Fly Asian Xpress Sdn Bhd ("FAX") And AirAsia.
Back May 31, 2007
|Subject||AIRASIA BERHAD ("AIRASIA" or "the Company")
- TERMINATION OF LEASE AGREEMENTS ALL DATED 28TH JULY 2006 (collectively "Lease Agreements") BETWEEN PENERBANGAN MALAYSIA BERHAD ("PMB") AND AIRASIA; AND
- TERMINATION OF MEMORANDUM OF UNDERSTANDING ("MOU") DATED 31ST JULY 2006 BETWEEN FLY ASIAN XPRESS SDN BHD ("FAX") AND AIRASIA.
AirAsia wishes to announce that it had on 30th May 2007 served a Notice of Termination on PMB in respect of all aircraft (“Aircraft”) under the Lease Agreements. The termination is to take effect on 30th September 2007. This is in line with the earlier discussions held with PMB to facilitate the timely return to PMB of the Aircraft and change in the registry to enable the next operator to assume the rural air services smoothly.
With the termination of the Lease Agreements, the sub-lease agreement between AirAsia and FAX in respect of the Aircraft shall consequently be terminated with effect from 30th September 2007.
AirAsia also wishes to announce the termination of the MOU dated 31st July 2006 with FAX with effect from 30th September 2007 in view of the cessation of operations by FAX of the rural air services.
This announcement is dated 31st May 2007.
|Company Name||AIRASIA BERHAD|
|Date Announced||31 May 2007|