AirAsia's Karen Chan discusses the pace of the recovery so far, why the LCC is streamlining its network and which markets could see the launch of a new AOC.
The holding company behind LCC AirAsia has rebranded itself as Capital A Berhad as CEO Tony Fernandes looks beyond air transport operations for growth.
AirAsia has unveiled the first aircraft in its planned narrowbody freighter fleet, and in the longer-term the carrier is interested in the prospect of a freighter version of the Airbus A321neo.
AirAsia has taken another step towards reaching its target for raising liquidity, after receiving MYR240 million ($56.8 million) for its share in leasing company Fly Leasing.
The era of Asian LCCs outdoing each other with massive narrowbody orders is probably over for the foreseeable future, as digesting their current backlogs will be enough of a challenge.
The bulk of the proceeds from offering have been earmarked for working capital as AirAsia Group is still feeling the effects of the COVID-19 crisis with its AOCs in Indonesia and Thailand grounded again.
AirAsia Group has raised MYR336.5 million ($82 million) following the completion of a two-tiered private share placement, part of a broader plan to raise MYR2-2.5 billion to save the struggling LCC operator which has been battered by the pandemic.
AirAsia Group recorded a strong recovery in passenger volumes in the 2020 fourth quarter (Q4), notably in domestic carriage across Indonesia, the Philippines and Thailand.
The Tata group’s purchase of a larger holding in joint venture AirAsia India (AAI) could help spur consolidation in the Indian airline industry as it rebounds from the COVID-19 crisis.
