One Holding Company For AirAsia In ASEAN Is Possible, Says Fernandes

SEPANG (Selangor, Malaysia), May 9 (Bernama) -- AirAsia Group has a long-term plan to consolidate its operations in ASEAN under one roof, says Chief Executive Officer Tony Fernandes. He said the move was to establish a holding company, as well as, make the 10 member-state region more connected and "smaller" in the future. "(The establishment of) (AirAsia) ASEAN consolidated (company) or (AirAsia) ASEAN holding is very possible," he told reporters after the AirAsia Bhd's extraordinary general meeting here Monday. Fernandes said he has held talks on the plan with several ASEAN member governments and the response was promising. "But this (plan) is (still) in its early stage. There is no timeline because we have to deal with 10 different governments," he said. ASEAN groups Brunei, Cambodia, Laos, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. At present, AirAsia Group consists of AirAsia Bhd (Malaysia), Thai AirAsia Co. Ltd, PT Indonesia AirAsia, Philippines AirAsia Inc, AirAsia X Bhd (Malaysia), Thai AirAsia X Co. Ltd and AirAsia (India) Ltd. In terms of routes and destinations, Fernandes said the low-cost carrier planned to expand its operations in India, the Philippines and Indonesia. Earlier at the EGM, company shareholders unanimously approved a proposal for Fernandes and the Group Executive Chairman Kamarudin Meranun to increase their stake in the company to 32 per cent each from 19 per cent each at present. -- BERNAMA