AirAsia expands in Philippines, buys into Zest Air

The Philippine unit of AirAsia has expanded its foothold in the country’s airline market by acquiring 49 per cent of local budget carrier Zest Airways.

Philippines’ AirAsia chief executive Marianne Hontiveros said on Monday that the alliance 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.

via Business feed http://www.scmp.com/business/companies/article/1188287/airasia-expands-philippines-buys-zest-air