Malaysia conglomerate Capital A says it plans to sell its budget airline AirAsia to its medium-haul affiliate AirAsia X in a bid to streamline operations.
Under the terms of the non-binding agreement, AirAsia Malaysia and AirAsia subsidiaries in Cambodia, Thailand, Indonesia, and the Philippines would be merged with AirAsia X. The new entity would handle short-, medium- and long-haul flights, Capital A chief executive Tony Fernandes says. The move enables Capital A to focus on its non-aviation businesses.
According to Fernandes, the merged airline would start flying new routes to India, Africa, Kazakhstan, and North and South America in 2025.
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