AirAsia, the Malaysian low-cost carrier, is planning to enter China, one of the last untapped markets for budget airlines, in a joint venture with the government of Henan province and Everbright, the state-owned conglomerate.
Tony Fernandes, the co-founder and chief executive of AirAsia, signed a memorandum of understanding with his potential Chinese partners on Sunday on the sidelines of the Belt and Road forum in Beijing.
Under the proposal, which is likely to face opposition from China’s three dominant state-owned airlines, AirAsia and its Chinese partners would establish a budget airline, pilot training centre and aircraft maintenance facility in Zhengzhou, the capital of Henan.
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