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Virgin to buy 20% stake in AirAsia X

onereeOptopsy
Posted: Friday, Aug 10, 2007 at 0000 hrs IST
Updated: Friday, Aug 10, 2007 at 1442 hrs IST

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‘Prepare policy document on cash-strapped aviation...AAI raised Rs 380 cr this yearAir India focussing on cost reduction

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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