Following the announcement on 24 February 2011 by AirAsia on the above matter, AirAsia wishes to update that AirAsia and its Philippines counterparts, through a Joint Venture entity known as AirAsia Inc. ("JV"), are working towards obtaining the necessary regulatory approvals for the operations of the JV with the aim of launching the first commercial flight in the third quarter of the year. The process includes applying for the Air Operators Certificate and the Certificate of Public Convenience and Necessity expected to be completed within a period of between three to four months.

This announcement is dated 24 May 2011.