Malaysia-based Capital A Berhad, the parent company of low-cost carrier AirAsia, is planning to further expand its presence in the Philippines by establishing companies involved in financial technology (fintech), cruise operations, and brand licensing.

Capital A Berhad Chief Executive Officer (CEO) Tony Fernandes said he is looking to harness the strong economic potential of the country as the company aims to be a dominant player in Southeast Asia.

Based on its website, Capital A Berhad operates 10 companies spanning sectors that go beyond traditional aviation and logistics.

One of these firms is BigPay, the company’s digital wallet arm, which provides loans for flights and seamless currency exchange for travelers, among other features.

Fernandes said BigPay was previously offered a license by Philippine regulators to operate in the country, but the company declined after running out of funds at the height of the Covid-19 pandemic.

While there are no concrete plans yet, he said the company is considering entering the country’s fintech space.

“We have been offered a partnership in the Philippines but it’s still early days,” he told reporters last week.

BigPay currently operates in Malaysia, Singapore, and Thailand.

Meanwhile, Fernandes said he has been pushing for the establishment of a cruise business in the Philippines.

Essentially, the vision is for travelers to depart from another country to the Philippines, where they will then embark on a cruise journey.

“Because of my access to the biggest cruise companies, such as Disney, MSC, Virgin, etc., we wanted to create a new product for the Philippines,” he said.

Another company under Capital A Berhad that could soon enter the Philippines is AirAsia Brand Co., otherwise known as Abc.

Abc. manages the intellectual property (IP) of the Capital A group, focusing on the creation, management, licensing, and enforcement of the AirAsia brand.

Fernandes said it’s too early to tell how this would take shape in the country, but noted that many companies relevant to Filipinos have already made inquiries about the brand.

He noted that a major hotel firm is seeking to license AirAsia’s name to create AirAsia hotel.

Other proposals include AirAsia mobile, AirAsia school, and AirAsia hospital.

Apart from these prospects, Fernandes earlier shared that Capital A Berhad is planning to invest $500 million to establish a maintenance hub in the country, which will be under its maintenance, repair, and overhaul (MRO) arm, Asia Digital Engineering (ADE).