AirAsia and Everbright sign China joint venture MOU

AirAsia Berhad has signed a memorandum of understanding (MoU) with Everbright and Henan Government Working Group to establish a low-cost carrier (LCC) in China.

It outlines how the parties will incorporate a joint venture to be known as AirAsia (China) for the purposes of operating a low-cost aviation business based in Zhengzhou, the capital of Henan province in central China.

AirAsia Executive Chairman Datuk Kamarudin Meranun, Everbright Financial Investment Holding Executive Director and President Wang Weifeng, Malaysian Prime Minister Najib Razak, AirAsia Group CEO Tony Fernandes, China Everbright Group Vice Chairman and President Gao Yunlong, Henan Airport Group Vice Chairman and President Li Weidong

In addition, AirAsia (China) will invest in aviation infrastructure, including a dedicated LCC terminal at Zhengzhou airport and an aviation academy to train pilots, crew and engineers, as well as maintenance, repair and overhaul (MRO) facilities to service aircraft.

The MoU was exchanged between AirAsia Group CEO Tony Fernandes, Everbright Financial Investment Holding Executive Director and President Wang Weifeng and Henan Airport Group Vice Chairman and President Li Weidong at China World Hotel here today.

The exchange was witnessed by Malaysian Prime Minister Najib Razak, Malaysian Ambassador to China Zainuddin Yahya, Malaysian Special Envoy to China Ong Ka Ting, Malaysian Agriculture and Agro-Based Industry Minister Shabeery Cheek, Melaka Chief Minister Idris Haron, China Everbright Group Vice Chairman and President Gao Yunlong, Everbright Financial Investment Holding Executive Director Xu Hongzhe and Henan Investment Group Vice General Manager Li Xingjia.

Also witnessing the exchange were AirAsia Executive Chairman Datuk Kamarudin Meranun, AirAsia Senior Independent Non-Executive Director Fam Lee Ee and AirAsia North Asia President Kathleen Tan.

Speaking at a private tri-lateral meeting with AirAsia and Everbright before the MoU exchange, Henan Provincial People’s Government Deputy Governor Shu Qing, who was not able to attend the ceremony, said, “Henan is very pleased to offer AirAsia a home in China. Zhengzhou was once the capital of ancient China. With AirAsia supporting the city’s aeropolis - an industrial, commercial and logistics zone five times the size of Manhattan with the airport at its heart - we have absolute confidence that we will succeed in transforming Zhengzhou into the new hub for global transport and logistics.”

China Everbright Group Vice Chairman and President Gao Yunlong said, “We are excited to be part of this joint venture to bring AirAsia to China. We believe China is ready for the world's leading LCC and we feel that AirAsia can deliver on that promise by providing real value to Chinese travellers thanks to its unique combination of low fares and world-class service.

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