AirAsia receives approval to purchase Batavia Air from Indonesian Government: reports

AirAsia and Indonesian partner PT Fersindo Nusaperkasa received approval from the Indonesian Government to purchase Batavia Air, according to reports by Bernama and The Star. Fersindo reportedly will complete due diligence in Sep-2012 and complete the acquisition by Mar-2013. As previously reported by CAPA, in Jul-2012 AirAsia and Fersindo announced plans to acquire PT Metro Batavia which operates Batavia Air and the Aero Flyer Institute. The acquisition will see AirAsia hold a 49% stake in Metro Batavia with Fersindo holding 51%.