AirAsia will deliver on Expedia sale, says Fernandes

KUALA LUMPUR (March 12): AirAsia Bhd group chief executive officer Tan Sri Tony Fernandes said the low-cost carrier will deliver the sale of its 25% stake in AAE Travel, the operator of travel booking site Expedia.

Fernandes said the exercise will be a sale and buy back of an asset to strengthen the group’s digital portfolio.

“AirAsia will deliver another sale as promised. Last one, we said Expedia. Will be a sale and a buying back of one asset to build our digital portfolio. Delivered all we said. Now onto our group and digital structure,” he tweeted this morning.

Earlier this month, Fernandes confirmed reports of AirAsia’s plans to dispose of its stake in Expedia by year-end, as part of its strategy to dispose non-core assets and focus on core operations.

He also said the group is also looking to sell its Santan food business and its logistics and cargo operations.

AirAsia rose 3 sen or 0.75% to RM4.03, giving a market capitalisation of RM13.43 billion.