AIRASIA, the region's largest budget carrier, has expanded its foothold in the Philippines by buying 49 percent of local budget carrier Zest Airways Inc.
Philippines' AirAsia CEO Marianne Hontiveros said that the deal signed yesterday will complement AirAsia's growth strategies. Zest Air operates 11 aircraft on 10 domestic and 10 international routes. It has hubs in Manila, Kalibo and Cebu in the central Philippines, which are major tourist destinations.
Malaysia-based AirAsia started operations in the Philippines in 2012 from Clark airport, a 2-3 hour drive from the capital, while Zest Air operates from Ninoy Aquino International Airport in Manila. AirAsia's routes from Clark include Kuala Lumpur, Hong Kong, Singapore, Taipei and Kalibo and Davao in the Philippines.
Discount airlines have burgeoned in Asia in the past decade, with AirAsia leading the charge, as economic growth that has lifted millions out of poverty boosts demand for affordable air travel.
AIRASIA, the region's largest budget carrier, has expanded its foothold in the Philippines by buying 49 percent of local budget carrier Zest Airways Inc.
Philippines' AirAsia CEO Marianne Hontiveros said that the deal signed yesterday will complement AirAsia's growth strategies. Zest Air operates 11 aircraft on 10 domestic and 10 international routes. It has hubs in Manila, Kalibo and Cebu in the central Philippines, which are major tourist destinations.
Malaysia-based AirAsia started operations in the Philippines in 2012 from Clark airport, a 2-3 hour drive from the capital, while Zest Air operates from Ninoy Aquino International Airport in Manila. AirAsia's routes from Clark include Kuala Lumpur, Hong Kong, Singapore, Taipei and Kalibo and Davao in the Philippines.
Discount airlines have burgeoned in Asia in the past decade, with AirAsia leading the charge, as economic growth that has lifted millions out of poverty boosts demand for affordable air travel.
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