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August 11, 2007
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Saturday
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Rajab 26, 1428
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Company news
KUALA LUMPUR: Richard Branson’s Virgin Group is taking a 20 per cent stake in Malaysia’s AirAsia long-haul carrier, with the British billionaire vowing on Friday to pilot the project into profitability.
“Sir Richard Branson of Virgin Group is our new strategic global investment partner,” said Kalimullah Hassan of Fly Asian Xpress Sdn Bhd (FAX), the long haul operator of AirAsia X.
“We believe that this partnership whereby Virgin will take a 20 per cent stake in AirAsia X will be a sound and successful investment,” Kalimullah said.
—AFP
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