Is the mighty AirAsia Group starting to consolidate its global holdings and operational footprint? Could this be an indication that a sale is on the way in the not too distant future. That may be the case, as the group has just confirmed it has disposed of 32.67% of its equity shares in AirAsia
(India) Limited (AAI) held by the Group’s wholly-owned subsidiary, AirAsia Investment Limited (AAIL). This brings down its shareholding in AAI to 16.33%.
(India) Limited (AAI) held by the Group’s wholly-owned subsidiary, AirAsia Investment Limited (AAIL). This brings down its shareholding in AAI to 16.33%.
Bo Lingam President of the airline's division of the AirAsia Group, said, “This transaction is in line with our initiatives towards reducing cash utilisation for the Group and will allow us to use cash to grow market share in our core markets in Asean, particularly in Malaysia, Thailand, Indonesia and the Philippines as well as for our future expansion into Cambodia, Myanmar and Vietnam.
“AirAsia Group has been reviewing its forward business strategy regularly, including its investment in AAI. This transaction will ensure strict cost containment for AirAsia Group in the short term, and strengthen our presence in Asean while continuing our market dominance for travel from Asean to India and North Asia.