October 11, 2011 / 10:56 AM / 7 years ago

Malaysia's AirAsia calls off proposed Vietnamese JV

KUALA LUMPUR, Oct 11 (Reuters) - Malaysian-based budget carrier AirAsia Bhd said on Tuesday it had decided not to proceed with a proposed joint venture with Vietjet Aviation Joint Stock Company.

AirAsia said in a filing to the Kuala Lumpur stock exchange that it had decided to let the joint venture agreement lapse as Vietjet failed to obtain regulatory approval from the Vietnamese authorities to use the AirAsia brand on its commercial operations.

Reporting by Min Hun Fong; Editing by Alan Raybould

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