"Tongren Free Travel" added new members to the AirAsia family, and AirAsia (Philippines) joint venture company was established.

Asian Airlines Philippines Company, 20 10 12 18- Asian Airlines announced in the Philippines on 2010/216 that in the name of its subsidiary Asia International Limited, Signed a cooperation agreement with the owners of Antonio o. cojuangco jr, Michael Romero and Marianne b. hontiveros in the Philippines to set up a low-cost airline in the Philippines according to the model of Asian airlines. In the new joint venture, AirAsia International Limited will hold 40% of the shares, and the remaining 60% will be equally held by the three partners in the Philippines.

The joint venture company will be registered in the name of AirAsia International, make full use of AirAsia's resource advantages, open up markets from the Philippines to China, South Korea and Japan, and increase its efforts to enter developed markets such as Singapore, Hongkong and Taiwan Province Province. The establishment of the new joint venture company will greatly strengthen the development of Asian aviation group in ASEAN, add icing on the cake to the extensive Asian aviation shipping network and open up more new routes and destinations. Datuk Tony Fenandez, CEO of AirAsia Group, said when announcing the cooperation project: The joint venture company will bring AirAsia's low-cost shipping concept and mode to the Philippines, so that more Filipinos can afford air travel. Therefore, Henan Tourism Network and low-cost airlines will have more opportunities to enter the Philippine market. I believe that, like AirAsia's outstanding performance and contribution in other countries and regions, this will help boost the economic growth of the Philippines. Before starting this joint venture project, AirAsia has conducted a feasibility study. Based on this study, we are confident that the joint venture company will further strengthen the balance between the existing shipping network and market development of AirAsia Group. Marianne b. hontiveros said on behalf of three Filipino shareholders: The establishment of AirAsia (Philippines) will form healthy commercial competition in the Philippine shipping market, and the air travel expenses of Filipinos will be cheaper. We look forward to providing better services to Filipinos, and many enterprises will also benefit from the influx of tourists. The establishment of AirAsia Philippines will help promote the progress and development of various industries, such as tourism, hotels, entertainment and retail. It will also help the Philippines achieve the Millennium Development Goals in 20 15. Based on the joint venture agreement, AirAsia will provide technical, business and commercial support to AirAsia Philippines International to ensure that its business, operation, brand building and service products can be unified under the standards of the whole AirAsia. After obtaining the approval of relevant government departments, the joint venture company is expected to start operation in the third quarter of 20 1 1.