Shares in AirAsia, the region’s largest no-frills carrier, and Rakuten, Japan’s biggest online retailer, rose on Thursday on reports that the two had agreed a joint venture to run a low-cost airline in Japan.
For Rakuten, a deal would mark its first foray into the airline business, building on its existing travel agency and extensive database of Japanese consumers acquired through its powerful ecommerce platforms.
Rakuten runs a range of businesses online including a travel business that offers hotel reservations across Asia.
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