Can AirAsia succeed where Gojek lagged in Thailand?

Singapore

GOJEK'S sale of its Thai business to AirAsia is being viewed as a positive move, even if a concession to rivals, for the Indonesian tech player. But sentiment is more cautious on whether the budget carrier can do a better job against deep-pocketed competitors like Grab.

On July 7, AirAsia announced that it was buying Gojek's business in Thailand - which includes motorbike-hailing, food delivery, parcel delivery and e-payments - for US$50 million in a share swap. Gojek will own 4.76 per cent of AirAsia SuperApp, the carrier's lifestyle business unit, valuing the latter at US$1 billion.