AirAsia’s acquisition of Batavia Air could be cancelled

The Indonesian government may cancel the acquisition of Batavia Air by AirAsia if the deal is found to breach the foreign ownership limit. The country’s Transportation Ministry’s air transportation director general, Herry Bhakti Gumay, said that AirAsia and its partner in the acquisition, PT Fersindo Nusaperkasa, had yet to report their acquisition to the ministry. AirAsia and its Indonesian partner Fersindo, owner of a 51 percent stake in Indonesia AirAsia (IAA). Both parties signed a deal to buy Metro Batavia, the owner of Batavia Air, for $80 million last wek. “We will give Batavia, AirAsia Berhard and Fersindo Nusaperkasa one