AirAsia likely to split digital ventures, airline business 'at some point': Tony Fernandes

AirAsia Group chief Tony Fernandes says “a split” between the group’s core airline business and its digital ventures is inevitable “at some point”. He was speaking at a 24 August virtual launch of AirAsia Ride, a ride-hailing provider that marks the group’s latest foray beyond its airline business. The group has in recent months doubled down on its digital offerings amid the coronavirus crisis, which has pummelled its airline business. It first launched AirAsia Digital in September 2020, comprising five portfolio companies in areas such as payment services, logistics, food and travel. Since then, the group has consolidated its non-aviation offerings into what Fernandes calls “a very tight ecosystem”. Asked if there was a possibility that the digital products could be divested from the airline business, Fernandes says: “If you look at the way we are positioning ourselves, there will be a split at some point for sure. The stock market isn’t giving us any value for [our] digital products. So we – the board of directors, [AirAsia Digital president] Aireen Omar, and I – will have to look at this.”<br/>