Strong performance from all AirAsia’s Asean JV this quarter, says Fernandes

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KUALA LUMPUR (March 15): AirAsia Group Bhd chief executive officer Tan Sri Tony Fernandes said this quarter will show strong performance from all its Asean joint ventures (JV).

In a series of tweets from his handle @tonyfernandes, he said the model of an Asean airline with India and Japan was really working.

“This quarter will show strong performance from all Asean JV. The model of an Asean airline with India and Japan is really working,” he said.

Fernandes also said AirAsia Indonesia is doing real well.

“Best ever quarter. Creating more jobs and bringing more tourists. The goal of @jokowi. We promised and we delivered,” he said.

Fernandes added that the value of data and the ability to build a platform business as strong as @GrabSG and @gojekindonesia was being overlooked in valuation.

“Analysts are siloed,” he said.

Earlier this month, AirAsia launched a venture capital fund in the United States to invest in startups seeking to enter or expand in Southeast Asia.

The fund, called RedBeat Capital, will focus on post-seed stage startups engaged in travel and lifestyle, financial technology, artificial intelligence and cybersecurity.

AirAsia is also partnering with San Francisco-based 500 Startups, which invests in young fast-growing companies and offers an accelerator programme for entrepreneurs. 500 Startups has supported more than 2,000 firms, including Twilio, SendGrid and Grab, a Southeast Asian ride-hailing firm.

At midday break, AirAsia was flat at RM2.76, with 2.65 million shares traded.