Shareholders approve formation of AirAsia Group, more consolidation on the card

SEPANG: Shareholders approved the formation of AirAsia Group Bhd, which will later assume the listing status of low-cost airline, AirAsia Bhd, on Bursa Malaysia.

Under a one-for-one share swap deal, AirAsia Group would emerge as an investment holding entity while AirAsia will focus on its airline operations, AirAsia Bhd Group chief executive officer, Tan Sri Dr Tony Fernandes told reporters after the company’s Extraordinary General Meeting yesterday.

The formation of AirAsia Group Bhd is expected to be completed by March 2018.

The move would create AirAsia as one economic unit and streamline the structure of its operations.

“This would enable the investors to understand the company better going forward. We would hopefully consolidate all of our ASEAN (affiliates) very soon. Thailand being the next, hopefully,” he said. — Bernama

KUALA LUMPUR: AirAsia is increasing its Maldives operations with the commencement of additional services via its long-haul affiliate, AirAsia X, in addition to the daily flights it currently operates.

In a statement yesterday, the low-cost airline said AirAsia X would operate the Kuala LumurMale service at four times weekly, beginning Feb 6, 2018, under the D7 airline code utilising Airbus A330-300 aircraft, equivalent to an increase of 156,000 seats per year.

In conjunction with the additional frequency, AirAsia is offering introductory promotional fares from as low as RM199 all-in fare for one-way travel, inclusive of taxes for all Maldives flights from now until Jan 14, 2018 for immediate travel until May 6, 2018.

AirAsia X Head of Commercial, Barry Klipp, said since commencing the Kuala Lumpur-Maldives service, AirAsia had seen tremendous growth in demand on this route, adding over 130 per cent seat capacity early last year when it increased flight frequency from three to seven weekly flights.

“Despite this increased capacity, we continue to see robust demand from our wide network and we hope that with this additional service offering with a larger capacity on our A330 aircraft, we will be able to capture this demand and further build our market dominance in the Maldives,” he said. — Bernama