AirAsia says transformation into digital travel and lifestyle group complete (The Edge Markets)

AirAsia chief executive officer Tan Sri Tony FernandesAirAsia Group Bhd’s chief executive officer Tan Sri Tony Fernandes
Source: The Edge Markets

AirAsia Group Bhd’s transformation into a digital travel and lifestyle group has been completed, its chief executive officer Tan Sri Tony Fernandes said today.

“Our transformation is over and AirAsia is now an investment holding company with a portfolio of synergistic travel and lifestyle businesses that leverage data and technology to deliver the best value at the lowest cost, supported by strong data and one of Asia’s leading brands that remains committed to serving the underserved,” Fernandes said in a statement in conjunction with the release of its financial results for the second quarter ended June 30, 2021 (2QFY21).

“Innovation has always been in our DNA and we will continue to develop and expand our products and services to meet consumer demand in all of our key markets,” he added.

Fernandes said AirAsia continues to evaluate funding, potential monetisation and other corporate exercises to ensure sufficient liquidity for the group.

He noted that by the end of 3QFY21, the group will have completed two batches of lease restructuring and expects to complete the full exercise by the end of 2021.

Meanwhile, in August, BigPay secured up to US$100 million in financing led by SK Group.

AirAsia also proposed a renounceable rights issue of up to RM1 billion which it expects to be finalised by the end of this year.

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The Edge Markets

8 September 2021

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