AirAsia looks to sell stake in loyalty programme: sources
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[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.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
