AirAsia calls off JV with VietJet

AirAsia has called off a proposed joint venture with VietJet Aviation to launch a low-cost airline. The venture had failed to gain Vietnamese government permission to employ the AirAsia brand across VietJet’s commercial operations. “As those conditions are fundamental for the successful conduct of the business model for the intended joint venture, the company has decided to allow the joint venture to lapse with immediate effect,” it said.