AirAsia keen on Philippines' Zest Airways? (5099)

KUALA LUMPUR: AirAsia
group is reportedly keen to acquire Philippine's budget airline Zest
Airways to expand the regional giant's foothold in the fast-growing
Philippine market, according to a news report.
The Philippines'
Inquirer said on Thursday nothing has been signed as of yet but talks
were ongoing between AirAsia and the group of former ambassador and
juice-drink magnate Alfred Yao.
The Inquirer said in an
interview on Wednesday, Yao confirmed the company was in talks with
several groups on the possible entry of new investors to help the
airline compete in the country's crowded budget carrier sector.
"We
have been approached, but nothing is final yet. There are offers," he
told the Inquirer. Yao declined to confirm talks with the AirAsia group.
The Inquirer quoted Yao as saying Zest Airways would make an appropriate announcement once a deal has been signed.