AirAsia switches to digital mode as it lightens load with leasing sale
SINGAPORE/HONG KONG/KUALA LUMPUR (March 23): Tony Fernandes, the co-founder of AirAsia Bhd, is seeking to transform Asia's biggest budget airline into an asset-light, digitally focused firm after the US$1 billion sale of its leasing business, in an effort to foster sustainable growth.
AirAsia, which pioneered budget air travel in Asia along the lines of Ryanair Holdings in Europe, is now building a sprawling empire that includes a payments company, logistics firm, food and beverages brands and a loyalty programme.
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