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AirAsia Buys Indonesia Airline For $2
Malaysia's AirAsia Sdn. Bhd. (AIA.YY) has bought a small Indonesian airline, AWAir, for a token $2, the Edge weekly business newspaper says
AirAsia - which last week kicked off Malaysia's biggest initial share offer for 2004 - is buying the airline in a 49-51 partnership with unnamed Indonesian parties, the paper says, quoting anonymous sources.
The report doesn't say if AirAsia must assume any debt from AWAir's previous owners.
The paper says one of AWAir's founders was former Indonesian president, Abdurrahman Wahid, who withdrew from the company after he was elected.
AWAir suspended operations in March 2002 because it found competition within Indonesia's aviation industry too intense, the report adds.
Kuala Lumpur 17/10/04
