Singapore's ValuAir plans to complete a feasibility study on the launch of a low-cost carrier within six months and seek institutional investors in the hope that services can be operated from 2004. Backers - including former Singapore Airlines chief Lim Chin Beng - are looking to operate no-frills services to Asia. Director Jimmy Lau says that if operations are viable, ValuAir will seek to start services next year with funds from invited investors.

Source: Flight International

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