As AirAsia transforms itself into a digital travel and lifestyle services group, it has officially renamed its airline holding firm AirAsia Aviation Limited.
Bo Lingam, former president for AirAsia Group, took over as group CEO of AirAsia Aviation Limited, overseeing the four airlines in the group - AirAsia Philippines, AirAsia Malaysia, AirAsia Thailand and AirAsia Indonesia.
AirAsia Group Berhad (AAGB) is the investment holding company for the eight digital portfolio companies.
AAGB’s portfolio includes AirAsia Aviation, the AirAsia Super App, cargo and logistics venture Teleport, BigPay financial services, the edutech arm AirAsia Academy, engineering company Asia Digital Engineering, ground services division GTR and the restaurant chain and food group called Santan.
“This structural change helps facilitate strong projected growth in both airline and non-airline portfolio businesses," explained Bo Lingam, AirAsia Aviation Limited CEO.
“The AirAsia Aviation Limited entity holds our existing airline investments and paves the way for new airline ventures to be formed in due course," he added. "We have also established a new AirAsia Consulting division tasked at reviewing new airline partnerships and franchise opportunities."
“By creating this airline holding company we can focus on continuing to be the world’s best low cost airline," the CEO stressed.
"We have spent the past 18 months reviewing every aspect of the operation to ensure that our airlines will return stronger than ever before. The world is finally opening up and we foresee a V-shaped rebound in air travel in the near future."
He cited “pleasing progress" in their airlines in the Philippines, Thailand and Indonesia and the as services are resuming in line with accelerated vaccination rates and the easing of travel restrictions in key markets.
“We look forward to the opening of international borders as the next key milestone," Lingam stated.
"We will continue to review new markets to operate from in the future, like Cambodia for example, when we can connect Asean once again with the best value fares and lifestyle offerings.”