AirAsia to buy Indonesia's Batavia Air
Malaysian low cost airline AirAsia Bhd is set to buy Indonesian low cost carrier Batavia Air as it aims to expand in the Southeast Asia's biggest economy, an AirAsia executive at its Indonesian unit said on Thursday.
AirAsia Bhd has dropped its US$80 million takeover bid for Batavia Air and will instead enter into a collaboration deal with the Indonesian carrier, encompassing ground handling, distribution and inventory systems.