KUALA LUMPUR: As part of continued expansion efforts, Malaysia's AirAsia, the leading low-cost airline in Southeast Asia, announced it is to buy Indonesia's low-cost carrier Batavia Air. The goal of the purchase is to expand into Southeast Asia's largest economy and AirAsia executives confirmed that the sale is set to take place, in a statement to Bikyamasr.com on Thursday. Indonesia's Lion Air, the largest low-cost carrier in the country, is already viewing the move as a threat to their business, but observers believe the move will increase competition to and from Indonesian destinations. “It will definitely improve the opportunities for passengers to get cheaper deals to Jakarta and other Indonesian spots,” one airline executive told Bikyamasr.com. He was not authorized to speak to the media. Communication Manager Indonesia AirAsia Audrey Progastama Petriny said the signing ceremony and press conference for the plan would be held late on Thursday in Jakarta. Petriny declined to give any details about the plan, including the deal value and the structure. “We shall announce the details later today,” he said.