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AirAsia and Rakuten team up for Japan budget airline

3 Jul 2014 00:50:15

reuters.com

(Reuters) - AirAsia Bhd (AIRA.KL) said on Tuesday it would set up a low-cost airline with Japan's biggest online retailer Rakuten Inc (4755.T) and other firms, marking the budget carrier's second attempt to tap one of Asia's lucrative air travel markets.


The new carrier, AirAsia Japan, will have an initial capitalisation of 7 billion yen ($69 million) and will start flying in about a year with a fleet of five Airbus A320 aircraft, the carrier's CEO, Yoshinori Odagiri, told reporters.


Read full story: reuters.com

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