AirAsia to launch Philippine joint venture.

Southeast Asia's greatest bill conduit AirAsia plans to launch a corner try airline operation in a Philippines in 2011, an central concerned in a negotiations pronounced Wednesday."The partnership deal is with a consortium of Philippine commercial operation leaders including Antonio Cojuangco (former chairman of Philippine Long Distance Telephone Co.)," a central told AFP upon condition of anonymity.Cojuangco is president Benigno Aquino's cousin.Kuala Lumpur-based AirAsia has set up identical corner ventures in Thailand as well as Indonesia as well as has previously announced plans to set up a unit in Vietnam.The central pronounced AirAsia would probably take a 40 percent stake in a brand new company, a maximum allowed underneath Philippine rules, as well as that a expansion devise had been in a tube for a couple of years."We will have it happen as fast as you can. Definitely you are seeking at next year for a take off of a domestic as well as overseas routes," pronounced a official.AirAsia in a matter Wednesday reliable it had been "exploring a feasibility" of environment up a corner try in a Philippines.Last month AirAsia pronounced net profit for a September quarter rose to 327.29 million ringgit (62.89 million dollars) from 130.07 million ringgit in a same period last year.http://news.malaysia.msn.com/regional/article.aspx?cp-documentid=4509131happy browsing!