U.S. Markets closed

News Summary: Asia's low-cost airlines' dogfight

The Associated Press

SKY PILOTS: Lion Air, Indonesia's top discount airline, is taking the battle for Asia's budget-minded travelers to the backyard of the airline that helped pioneer low-cost flights in the region .

HELLO, MALAYSIA: Lion Air has launched Malindo Air in Malaysia, the base of AirAsia, which dominates cheap travel in the region. Malindo will fly between Malaysia and Indonesia before expanding to other cities in Southeast Asia.

HIGH FLIER: Lion Air is buying 234 Airbus planes, the biggest order ever for the French aircraft maker. Lion also gave Boeing its largest-ever order for 230 planes last year.