AirAsia, Zest sign ‘dream alliance’

Share-swap deal to give Malaysian firm 49% of Yao’s airline


The local unit of Malaysia’s AirAsia and Alfred Yao’s Zest Airways have

joined forces in a “dream merger” that will take on bigger rivals that dominate the country’s air travel industry.

AirAsia Philippines and Zest Airways formally announced Monday a strategic alliance that would involve the integration of operations of both airlines. The two brands, however, will continue to operate as separate entities.

“This gives us the critical mass to build something special,” Malaysian businessman and AirAsia group CEO Tony Fernandes said in a speech following the announcement.

Under the strategic alliance, the two groups agreed to a share swap with AirAsia Philippines getting a 49-percent stake in Zest Airways. In exchange, Yao will get a 15-percent interest in AirAsia Philippines.

Yao’s stake will come from AirAsia Philippines’ existing Filipino shareholders, namely, the company’s CEO Marianne Hontiveros, vice chair Michael Romero and chair Antonio “Tonyboy” Cojuangco. Each of the original shareholders will give up 5 percent of their current 20 percent to Yao.

Once the transaction has been completed, all four Filipino shareholders will own 15 percent of AirAsia Philippines, while the remaining 40 percent will stay with Malaysia’s AirAsia Berhad.

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  • ian martinez

    AirAsia is facing stiff competition in Philippines and is based at Clark, after this merger they will be trying to relocate as many flights as they can to Naia. Anyone could have told them that 1 year ago, that Clark has poor infrastructur, taxi mafias etc.

  • tea tinio

    idiot filipinos still use malaysian stuff. dapat nga talaga tratuhing hayop mga pilipinong yan. tama ang malaysia.

    in case. subukan nga mga pilipino tigilan ang SM. babagsak ang china. iwithdraw nyo lahat ang pera nyo mula sa BDO, chinabank.

    tignan nyo kung magmamalaki ang china.

    • muddygoose

      Not everyone with Chinese ancestry is loyal to the People’s Republic of China. Even if SM and BDO disappear tomorrow, the PRoC will not feel anything owing to the fact that they have no interdependence and that PRoC is just so massive with lots of banks and giant businesses under its control.

      Please try to think about these things before talking nonsense.

      • Paul Eugenio

        Pabayaan mo siya. Kasali siya sa mga tangang magbebenta ng boto sa eleksyon.

      • tea tinio

        idiot… BDO ka nagtatrabaho?

        bat di mo ikampanya? sa tingin mo kung mawalan ng 20M customer ng isang item eh hindi sila maapektuhan? 

        o sa sm ka nakikinabang? check mo ulit.

        baka dependent ang hanapbuhay mo sa intsik.

      • muddygoose

        tea tinio– Kindly read your own post. You said:

        “in case. subukan nga mga pilipino tigilan ang SM. babagsak ang china. iwithdraw nyo lahat ang pera nyo mula sa BDO, chinabank.”

        Babagsak ang China kung walang bumili sa SM? Isn’t that something only a retard would say?

      • tea tinio

        that’s what a practical person would do. anyway, get lost.

      • muddygoose

        You’re the one who needs to get lost. Don’t infect other readers with your emotional outbursts that reek of nonsense.

      • tea tinio

        your the non sense. babay.

      • tea tinio

        look at the mirror. non sense.

  • marcial101

    dapat meron din provision, sa airline company  katulad sa malaysia, that is in case the philippine government needs the use of their services in times of calamity or emergency, their aiplane should be available at a discount, otherwise revoke or meron penalty

  • Pablo Juan

    mabuti naman.. looking forward to airasia flights to/from NAIA.. Clark is just too far, specially if you’re just commuting.

    • LinKaShing

      Bro theres a bus service from Megamall/Trinoma c/0 Philtranco w/c picks up pasengers regularly, at varying time directly to Clark airport.

      • ian martinez

        Yes there is, every 6 hours, only 2 buses during normal daytime. Clark remains a shambolic place to get to, if the fares wern’t bargain prices, not many people from Manila would go there.

    • Paul Eugenio

      So ang mangyayari dito…codeshare between AAPH & Zest?

  • kurakut


    • Jean Claude

      huh? ni hindi nga matalo ng air asia ang cebu pacific sa philippine market.

  • Babinski R Tero

    Idiot airlines… we blowup this airlines into the air.

    • muddygoose

      Aircraft loses 1 plane and gets it back from insurance company. 300 innocent people die.  Investors lose confidence, 100,000 people lose jobs.

      If you want to be a hero, think first. Don’t be a Kiram.

  • ShibumiNinja

    Nice to know that Air Asia was the one Transporting Malaysian Troops to Sabah for the Slaughter of filipinos in the Islands… Welcome loosers

    • LinKaShing

      Because you are running out of decent millitary transport, probably thats why :p

    • Paul Eugenio

      Tony Fernandez is an Indian. He’s not a “Bumiputra”. Google that term before you judge.

      • ShibumiNinja

        da who is that creature? where in my statement is a tony fernandez included… it’s my privilege to judge.

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