Malaysia’s AirAsia and Australia's Jetstar recent alliance to pool resources and expertise, procure new aircraft and revenue-sharing deals could lead to cost savings of about S$255.26 million annually. Jetstar CEO Bruce Buchanan revealed this at the recent Low Cost Airlines World Asia Pacific 2010 congress held in Singapore in January 2010 "The immediate cost savings will be in fuel purchases, maintenance, sharing of aircraft engine spare parts and ground handling in the Asian markets both carriers operate.