Air Asia and Expedia announce Asia-Pacific JV

Expedia and Malaysian LCC AirAsia announced the launch of a new joint venture company to to cover the Asia Pacific, as part of Expedia's efforts to ramp up its coverage and market share in the region. Under the agreement the new company will be formed to operate and Expedia-branded businesses across Japan, India, Southeast Asia and other East Asian markets, as well as representing the AirAsiaGo and GoRooms businesses. The JV will sell flights, hotel stays and holiday packages through the AirAsia or Expedia sites.

Shares in Expedia rose 3.8%, on a positive day for most airport and airline suppliers shares. Ground handler Menzies Group saw its shares up 4.4%, after two days of weaker trading.

Selected suppliers daily share price movements (% change): 30-Mar-2011