Indonesia AirAsia Airbus A320

Indonesia AirAsia Airbus A320 (Photo credit: Wikipedia)

KUALA LUMPUR, June 18 (Bernama) — Budget carrier AirAsia‘s Group Chief Executive Officer Tan Sri Tony Fernandes is upbeat on its Asean operations attaining potential growth of between 400 and 500 per cent.

“Let’s assume Malaysia makes RM1 billion and we are not making that amount in other countries. If I can make RM1 billion each in Indonesia, Thailand, the Philippines and Japan, then we will go from RM1 billion to RM4 billion in total.

“So, if we get it right, these countries can potentially make 400 to 500 per cent more.

“The impetus is in trying to deliver profitability to the countries that the group is not generating as much as Malaysia, and I believe we can do that with the right emphasis and the right drive,” he told reporters after announcing the carrier’s new Chief Executive Officer for the Malaysian operations.

He said AirAsia marked the start of its second decade with the new regional office in Jakarta, Indonesia that will be focusing on the group’s broader expansion, with more joint ventures in Asean.

Fernandes said the group needs to have a wider regional outlook, considering the enormous potential of an underserved market of three billion spread across Asean, Northeast Asia and South Asia.

He said with about 20 staff in Jakarta to be led by him, AirAsia Asean would provide an environment free from the pressures of day-to-day operations and the necessary “firefighting”.

Asked whether it is the right time for restructuring, Fernandes said AirAsia has always benefited from the economic slowdown and it’s an ideal opportunity to grow.

The group hopes the Jakarta office would enable it to tap the large domestic Indonesian market and raise AirAsia Indonesia’s profile before its listing on the Jakarta Stock Exchange by the first quarter of 2013, he said.

“Actually it’s not a delay to 2013, but we are just giving a gap as we are done with Thailand and other listing, mainly AirAsia X on the local bourse that is expected to be in October or November this year,” he said.

AirAsia Thailand’s recent initial public offering saw strong demand for its shares, and Fernandes said AirAsia Indonesia’s listing process is on track and progressing well.

Source: BERNAMA

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About The Aseanists Time

The Aseanists Time is daily online newspaper and magazine covering on regional politic, economic, and social issues; science and technology, regional leaders, politic and economic in each ASEAN Member States along with ASEAN 6 (United States, Australia, Japan, South Korea, China, and India), regional natural disaster and climate change, regional business, finance and economic statistic and figure. Furthermore, We also cover on top 10 economic countries. Finally, we report ASEAN, EU and UN as well.

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