S'pore company bids for budget air license

A Singaporean aerospace company is expected to seek a license to launch China's first low-cost domestic airline, Singaporean media reported. The company in question, believed to be A-Sonic Aerospace, an aircraft and avionics retrofitting company, will operate the airline as a joint venture with at least one Chinese partner, the reports said. Foreign companies can take a maximum 49% stake in Chinese airlines. Earlier this week, Singapore media reported that Malaysian budget airline Air Asia would become the first discounter to fly to mainland China, operating flights between Bangkok and Kunming beginning at around US$20 each way.