Monday 1 October 2012

AirAsia Bhd (RM3.02/share) ‘AirAsia’s Jakarta move not a sudden decision’


Airasia group chief executive officer Tan Sri Tony Fernandes said the company’s decision to relocate to Jakarta has nothing to do with its failed share-swap deal with Malaysia Airlines (MAS).

Speaking candidly, the country’s 15th richest man, according to Forbes magazine, said it was unfortunate that the timing of the move had coincided with the collapse of the share-swap deal with the national carrier.

Fernandes claims he is not sour that the deal collapsed and said the bright spot from the brief engagement was that both airlines now understand each other better. Fernandes insists that AirAsia’s move to Jakarta, which he announced in June, is to help turn it into a global brand instead of it being a Malaysian brand.

On the soon-to-be-completed low-cost carrier terminal KLIA2, Fernandes said the decision maker will be Aireen Omar, AirAsia Malaysia’s chief executive officer.

However, his concern is that Malaysia could lose its competitive advantage should the country not realise its full potential as a low-cost hub in the region.

 – Business Times 

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