Virgin to buy 20% stake in AirAsia X

surekha
Posted: 2007-08-10 00:00:00+05:30 IST
Updated: Aug 10, 2007 at 1442 hrs IST

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Putrajaya (Malaysia), August 10:: Britain's Virgin Group will take a 20 per cent stake in Malaysia's first long-haul budget airline, AirAsia X, the Malaysian carrier said on Friday.

It did not immediately give a price for the deal.

The move links Virgin founder Richard Branson with Malaysian businessman and AirAsia X major owner Tony Fernandes, who founded sister company AirAsia Bhd, the region's largest low-cost airline.

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