Monday, July 25, 2005

Mergers: Singapore's cut price airlines to merge

Jet Star Asia and Valuair, two budget airlines flying out of Singapore, have agreed to merge. A new company will be formed to run and operate the carriers.

Jet Star is 49% owned by Australia's Qantas whose boss, Geoff Dixon, will be chairman of the new company.

Valuair is run by a group of Singapore executives.