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AirAsia was established as a full-service airline in 1993 and began operations on 18 November 1996. It was founded by a government-owned conglomerate, DRB-HICOM.On 5 September 2001, the heavily indebted airline was bought by former Time Warner (now known as Warner Bros. Discovery) executive Tony Fernandes and Kamarudin Meranun's [5] company Tune Air Sdn Bhd for the token sum of one ringgit ...
On 11 March 2013, an agreement was made between AirAsia Philippines to swap shares with Philippine-based airline Zest Airways. [13] Zest Airways received a mix of $16 million cash and a 13% share in AirAsia Philippines, while AirAsia Philippines now owns 85% of Zest Airways, with 49% of its voting rights. The deal closed on 10 May 2013.
Zest Airways, Inc., operated as AirAsia Zest (formerly Asian Spirit and Zest Air ), was a Filipino low-cost airline based at Ninoy Aquino International Airport in Pasay, Metro Manila in the Philippines. It operated scheduled domestic and international tourist services, mainly feeder services linking Manila and Cebu with 24 domestic destinations ...
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Cebu Air, Inc. ( PSE : CEB ), operating as Cebu Pacific (stylized in lowercase ), is a Philippine low-cost airline based at Pasay in Metro Manila. Founded in 1988, [ 2] it is Asia's first low-cost airline and the Philippines' largest leading airline. [ 7][ 8][ 9] It offers scheduled flights to both domestic and international destinations.