AirAsia looking to sell stake in loyalty programme
Low cost airline AirAsia is looking to offload a 30% stake in its loyalty programme which would value it at about $300million, according to a Reuters report.
The AirAsia BIG frequent flyer programme is owned by Asia’s biggest budget airline and Malaysia’s Tune Group and a proposed sale would raise about $100 million the report says, citing unnamed sources.
Talks with a potential buyer are at an early stage and a deal is expected to close in a few months.
AirAsia’s BIG loyalty programme has 12 million members and spans the Asia pacific region.
It has partnerships with more than 100 partners companies including credit card issuers, retail stores, hotels and travel companies.
AirAsia Group recently posted its first net loss for two years in fourth quarter 2015 financial results and plans to make some cuts to its long haul unit AirAsia X.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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