AirAsia Group has announced that its wholly-owned unit, AirAsia Investment Ltd (AAIL), has been given approval by the local Chinese government for a business license. AAIL has since incorporated a wholly-owned subsidiary known as AirAsia (Guangzhou) Aviation Service Limited Co. (AAGASL).
The Malaysian carrier group said in a statement AAGASL would have an issued share capital of USD1 million. The main objective of establishing the unit is to have an aviation and commercial services company in China, it added.
In May of this year, AirAsia Group signed a Memorandum of Understanding (MOU) with the China Everbright Group and Henan Government Working Group with a view to establishing AirAsia China.
