AirAsia Group puts 4 airlines under control of renamed holding company
On October 14, 2021, AirAsia Group revealed that it was changing the name of its subsidiary AirAsia Investment to AirAsia Aviation in order to create a distinction between the group’s airline and digital businesses.
The new AirAsia Aviation Limited will control four of AirAsia Group’s airlines, including AirAsia Malaysia, AirAsia Philippines, AirAsia Thailand, and AirAsia Indonesia. Following structural changes, the new holding company will be managed by Bo Lingam, the current president for AirAsia Group, who will now become chief executive officer of AirAsia Aviation.
Commenting on the ongoing business reorganization, Lingman said that the new company will help the group to make a clear distinction between its airline business and digital travel and lifestyle services. Lingman explained that the move should also help AirAsia Group to facilitate strong projected growth in both airline and non-airline portfolio businesses.
In the group’s statement, Lingham noted: “The AirAsia Aviation Limited entity holds our existing airline investments and paves the way for new airline ventures to be formed in due course. We have also established a new AirAsia Consulting division tasked at reviewing new airline partnerships and franchise opportunities.”
Lingam also explained that AirAsia Aviation will become one of eight digital portfolio companies, including cargo and logistics venture Teleport, financial services provider company BigPay, engineering company Asia Digital Engineering, ground services division GTR, educational arm AirAsia Academy, and AirAsia ‘Super App’, as well as restaurant chain and food group, Santan.
Lingman added: “The AirAsia Aviation Limited entity holds our existing airline investments and paves the way for new airline ventures to be formed in due course. We have also established a new AirAsia Consulting division tasked at reviewing new airline partnerships and franchise opportunities.”
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