Manufacturing Industry
Jetstar Asia and Valuair to merge
Airline Industry Information, July 25, 2005
AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD
Jetstar Asia and Valuair, two Singapore-based budget carriers, are to merge.
The two airlines said jointly that they will form a new entity for the ownership and operations of both carriers.
Jetstar Asia is 49% owned by Australia's Qantas Airways Ltd while Temasek Holdings, the Singapore government's investment unit, holds a 19% stake. Valuair was set up by former employees of Singapore Airlines Ltd and has owners that include the cruise operator Star Cruises Ltd and Asiatravel.com, Reuters reported.
The airlines said that the CEO for Qantas, Geoff Dixon, will be chairman of the new airline and Ken Ryan, the Jetstar Asia CEO, will hold the position of chief executive with the new company, according to The Associated Press.
((Comments on this story may be sent to aii.feedback@m2.com))
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