AirAsia: no more new joint ventures for next three years
Budget carrier AirAsia will not expand with any new joint ventures for the next three years at least.
It will concentrate in turning around its existing foreign units in Indonesia and the Philippines.
The LCC airline group recently announced the upcoming launch of a joint venture in Vietnam which will go ahead as planned.
In a series of tweets, boss Tony Fernandes laid out AirAsia’s short-term strategy.
"AirAsia will not be opening up any more new airlines for the next three years. After Vietnam we will focus on what we have," Fernandes said.
"Focus this year is to make Indonesia and Philippines very profitable."
He expects India and Japan to turn a profit in 2021.
"We have a great seams franchise. Indonesia, Malaysia, Thailand, Philippines and Vietnam, coupled with two great countries to enable us to cover the world – India and Japan."
Fernandes also said 2019 will be the year ‘people will begin to see our strength in digital.’
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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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