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AirAsia to build digital portfolio
Published on: Tuesday, March 13, 2018

Kuala Lumpur: AirAsia Bhd is set to build its digital portfolio as part of an expansion plan, said Group Chief Executive Officer (CEO), Tan Sri Tony Fernandes.

"AirAsia will deliver another sale as promised. There will be a sale and a buying back of one asset to build our digital portfolio."

"Delivered all we said. Now on to our group and digital structure," he wrote in his twitter accounton Monday.

Earlier this month, Fernandes reaffirmed the group would dispose of its non-core assets and focus on core operations.

He was reported as saying that the group's profits were derived from selling air tickets and from ancillary income.

"The leasing business is not one that analysts value. That's why we disposed of it," Fernandes said.

The low-cost airline confirmed that it would dispose of its stake in travel booking site Expedia, and the disposal is expected to be completed by year-end.

The group is also looking at selling its "Santan" food business, and logistics and cargo operations.

The Group CEO, via his Instagram account, said the company would be investing in financial technology like "bigpay", an e-wallet and prepaid card service.

At 11.55 am Monday, shares of AirAsia rose three sen to RM4.03 with 2.05 million shares transacted. –Bernama

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