AirAsia Group Bhd is keen to make more acquisitions to turn the company into one of the top technology players in the region.
The famous airline group has ventured into different industries driven by technology this year. The group executed many deals, including acquiring ride-hailing service Gojek Thailand and local food delivery platform DeliverEat.
According to The Star, AirAsia chief executive officer Tan Sri Tony Fernandes said he had a pipeline of plans to strengthen the group’s services as well as the position of the group at home and in the region.
The acquisitions are all part of the group’s digital transformation plan to become ASEAN’s top super app. The app currently offers services including:
- Food delivery
- Flight ticket booking
- Grocery shopping
- E-commerce platform for beauty products
The pandemic has resulted in travel and movement restrictions that significantly impacts the airline group. To diversify its revenues after the hit of the Covid-19 pandemic, AirAsia has ventured into the food delivery industry last November with AirAsia Food. For the next 12 months, Fernandes said they would focus on strengthening their travel and delivery business.
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According to Tony Fernandes, the digitalisation of the group will be an ongoing plan that would see AirAsia extend its services in the finance sector such as BIG Wealth. The group is looking into providing loans for individuals and small and medium enterprises (SMEs) through its platform. In addition, it will allow individuals to invest in unit trusts, equities and even bitcoin.
Fernandes said there would be a “split” at some point in its digital platform as the stock market had not priced in its other businesses.
“People are too focused on our airline business, but AirAsia is now a multi-business company and a very valuable data-driven technology company with a strong brand,” he said.
Meanwhile, AirAsia just launched its ride-hailing service airasia ride in Klang Vally on 24th August. The group aim to expand to other states across Malaysia by the end of 2021.