AirAsia plans to consolidate units under one listed firm

Fernandes hopes to achieve plan in two years

DAVAO, Philippines: After establishing AirAsia Bhd (AirAsia) on a strong footing in the Asian aviation market for the past 16 years, its group chief executive officer (CEO), Tan Sri Tony Fernandes plans to consolidate the low-cost carrier Southeast Asian units under one listed holding company.

The One AirAsia seeks to bring together the company’s Southeast Asian units in Malaysia, Thailand, the Philippines and Indonesia, and to go public in two years’ time.

“The first step is to create the group company, and AirAsia group deputy chief eexecutive officer Rozman Omar is working hard on it. Is a lot of work to

The first step is to create the group company, and AirAsia group deputy chief eexecutive officer Rozman Omar is working hard on it. Is a lot of work to do ‘One AirAsia’ as a corporate structure. But ‘One AirAsia’ as a company within a company is working really well. Tan Sri Tony Fernandes, AirAsia CEO

do ‘One AirAsia’ as a corporate structure. But ‘One AirAsia’ as a company within a company is working really well.

“We are reducing costs, combining a lot of services, standardising a lot of products,” he told reporters after announcing AirAsia’s direct flights from Kuala Lumpur to Davao, starting December 21 this year, here during the weekend.

Fernandes said the corporate structure exercise would be a lot of works as the company has to persuade the Malaysian, Thai, Philippine and Indonesian governments to change the ownership rules, but it is beginning to happen. Turn to Page B2, Col 1