AirAsia is planning to establish a long-haul budget airline, according to local press reports, through regional affiliate FlyAsian Xpress, in which AirAsia CEO Tony Fernandes holds 50%. AirAsia Executive Director Kamarudin Meranum holds a 30% stake in FAX and Raja Azmi, AirAsia's former CFO and current FAX CEO, owns the rest. FAX flies throughout east Malaysia using seven F50s and five Twin Otters. For the moment, all of its flights are domestic, but according to its website, "it will extend ...

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