AIRASIA DROPS BID TO ACQUIRE BATAVIA AIR
AirAsia (AK) has dropped plans to acquire Indonesian carrier Batavia Air (Y6) after they failed to reach an agreement, according to local news reports.
“We will continue to seek strategic partners to develop our business,” Y6 chief Yudiawan Tansari told Dow Jones. AK could not immediately be reached for comment.
AK and its Indonesian deal partner Fersindo Nusaperkasa agreed to acquire Y6 in July. Under the contract, AK would have taken a 49% stake in Batavia and Fersindo Nusaperkasa would have taken a controlling 51% shareholding.
Y6 launched operations in 2002. The carrier operates one Boeing 737-500, 15 737-300s, 10 737-400s, seven Airbus A320s and two A330s.
13/10/2012 : Victoria Moores / Air Transport World
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