Welcome Googler! If you locate this post exciting, you may possibly want to subscribe to our Newsletter for the most current travel news.
Expedia has entered into an agreement with AirAsia Berhad to buy an further 25% equity interest of AAE Travel Pte. Ltd., the joint venture formed amongst the two companies in 2011, for cash consideration of $ 86.three million. This investment will improve Expedia's total ownership in the joint venture to 75%.
"Asia continues to be a rapidly-paced, expanding marketplace, and partnering with a powerful brand like AirAsia has been instrumental in driving the expansion of our company in the area," said Dara Khosrowshahi, President and Chief Executive Officer, Expedia, Inc. "We continue to value and appear forward to a great ongoing connection with them as we bring our globe-class technologies and supply to travelers across Asia."
"Our partnership with Expedia has been and continues to be a terrific achievement for both organizations," said Tony Fernandes, Group CEO of AirAsia. "We are excited to continue the close connection amongst Expedia and AirAsia to provide unrivaled travel experiences for Asian consumers."
The transaction is anticipated to close in the 1st half of 2015, at which point Expedia expects to incorporate the AirAsia-Expedia Joint Venture economic benefits in Expedia's consolidated economic statements.
Recommended
Want to uncover methods to take a trip inexpensively employing final minute travel ideas? Then verify out these sources for leading coupon code for hotels com prior to your future holiday.
Walt Disney World Celebrates Indonesi Independance Day
Image by asitrac
Balinese dancers performing at WDW Animal Kingdom (Orlando)
No comments:
Post a Comment