In a deal that may lead to a mega low-cost airline group in Asia, Qantas agreed to pay S$60 million ($36 million) for Singapore-based Valuair, which is to be merged into Qantas's 49%-controlled Jetstar Asia. The deal was confirmed yesterday by Jetstar CEO Ken Ryan, who will take control of Valuair. The new entity will see Qantas's stake reduced to 45.5%. The Australian airline also is holding talks with Kuala Lumpur-based AirAsia, which had been prepared to inject S$20 million into ...

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