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AirAsia looks to sell stake in loyalty programme: sources
[HONG KONG] AirAsia Bhd is in talks to sell a minority stake in its loyalty programme joint venture to private equity firms, in a deal that could value the business about US$330 million, people familiar with the matter told Reuters.
AirAsia BIG, the loyalty programme owned by Asia's biggest budget airline and Malaysia's Tune Group, could raise about US$100 million by selling some 30 percent stake, the people added.
The sale process highlights AirAsia's attempts to monetise its affiliates and comes at a time when AirAsia co-founded by entrepreneur Tony Fernandes is facing challenging times.
AirAsia did not reply to multiple emails and phone calls from Reuters seeking comment. Sources declined to be identified as the discussions are confidential.