Plato Capital mulls budget-airline investment in China with AirAsia

PLATO Capital, an investment company based in Kuala Lumpur, on Monday said it plans to set up a joint venture with AirAsia, Everbright Financial Investment Holdings, and Oxley Capital, to set up a low-cost airline in China to be known as AirAsia (China).

The term sheet is non-legally binding; no further details were provided on Plato's share in the JV.

"The board believes that the proposed JV represents an attractive investment proposition to further diversify the company's investment portfolio," said Plato in a regulatory filing.