Malaysia-based AirAsia has pledged to invest $1 billion to expand its operations in the Philippines.
AirAsia's Tony Fernandes made the pledge in a roundtable meeting with President Ferdinand "Bongbong" Marcos Jr. during the latter's state visit to Malaysia.
"So, over the next few years, we think we’ll invest about $1 billion into the Philippines. We have about $300 million so far. We want to grow our aircraft from 23 to 50, including wide-body aircraft … we are just applying for the license now," he added.
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