AIRASIA GROUP BERHAD ('AAGB' OR 'THE COMPANY') - TERMINATION OF PROPOSED JOINT VENTURE IN VIETNAM
We refer to the announcements dated 31 March 2017 and 6 December 2018 in relation to the Company’s proposed joint venture in Vietnam.
The Company wishes to announce that its wholly-owned subsidiary AirAsia Investment Limited, together with Gumin Company Limited and Hai Au Aviation Joint Stock Company, have amicably agreed to terminate and release each other from all obligations under the transaction agreements in relation to the proposed joint venture in Vietnam, effective 17 April 2019.
The Company nonetheless remains interested in operating a low-cost airline in Vietnam due to its favourable geographical location, expanding aviation market and overall growth potential.
The termination of the joint venture is not subject to the approval of the Company’s shareholders and is not expected to have any financial impact on the net assets or gearing of the Company.
This announcement is dated 17 April 2019.
|Company Name||AIRASIA GROUP BERHAD|
|Date Announced||17 Apr 2019|
|Category||General Announcement for PLC|