Malaysia’s AirAsia is seeking to acquire the low cost carrier Zest Airways, according to a report in the Philippine Business Inquirer newspaper.
The report said that talks are going on between the airline and the group that owns the Philippines-based budget carrier led by Alfred Yao, the juice drinks tycoon and former ambassador.
Yao was quoted in an interview as saying that Zest was in talks with several possible new investors.
“We have been approached but nothing is final yet. There have been offers,” the Inquirer quoted him as saying.