MANILA: The European Commission has lifted a ban on the Philippine unit of Malaysia's AirAsia Bhd offering services to European Union (EU) member countries, an executive of the airline said on Thursday.
The lifting of the ban which was imposed in 2010 comes as a rare spot of good news for the AirAsia group, which is currently under a cloud after a report questioning the Malaysian company's accounts sent its share price tumbling.
With the lifting of the ban, the local AirAsia unit could launch a European service in the next three to five years, depending on market demand, director Alfredo Yao told Reuters.
"In the future, we can do direct flights but now we are using AirAsia X Bhd for long haul," Yao said, adding that the local carrier might buy for itself a wide body Airbus A330 aircraft.
The local AirAsia, which operates 15 aircraft, has been in the red since its creation in 2010, but expects to book profits in the fourth quarter this year.
The European Commission had earlier lifted the ban on Philippine Airlines Inc and Cebu Air Inc, allowing the carriers to fly into the airspace of the 28-member bloc.
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