AirAsia Group Berhad announced its new name for the group holding company, Capital A Berhad. In a press release, the Group announced its name change as part of its new core business strategy to introduce a new corporate identity and become an investment holding company with a portfolio of synergistic travel and lifestyle businesses. Now, the AirAsia brand is more than just an airline.
According to Capital A CEO Tony Fernandes, the name change is not just about unveiling a new logo but marks a new era for the Group. It is the long firm intention of Fernandes to leverage the strong data the Group has built for the past two decades and incorporate industry-leading new technologies in an attempt to offer a broad range of products and services that is more than just selling airfares. Fernandes also added that the pandemic played a part in accelerating that strategy.
This name change will transform the AirAsia brand from an airline into a one-stop digital travel and lifestyle service group. Fernandes believes that this new company name will further enhance the Group’s marketability of products and boosts its success in the long run.
Despite the name change, Capital A will remain to deliver the best value at a lower cost.
“Just like what the airline has done from day one, all of our different lines of business will deliver the same strategy that is underscored by doing what we do best – making travel and everyday lifestyle services affordable, accessible, and inclusive to all,” Fernandes said.
Fernandes foresee the incredible growth opportunities for the brand across many different industries in all their core markets.
Capital A’s five-year plan
Capital A CEO Tony Fernandes assured that despite the name change, the AirAsia brand name for their airlines will not change, “it’s one of the strongest brands in Asia and provides a solid platform for all of our other products and services to leverage from each other.”
Capital A’s five-year plan will include non-airline revenues that will contribute to around 50% of the overall revenue of the Group.
“Once the airlines return to pre-Covid levels shortly all of our other lines of business will benefit significantly and will all soar to new heights in tandem with one another,” Fernandes said.
Included in the Group’s five-year plan is for the Group airlines to connect over 1 billion people in ASEAN, for the engineering division (ADE) becomes an industry leader for maintenance, repair, and overhaul (MRO) services in Southeast Asia, for AirAsia Super App to be the super app of choice in Asean, have 10 million monthly active users for BigPay, have 10% market share in Southeast Asia for Teleport, in the logistics and e-commerce industry, have 5 million sign-ups for edutech arm AirAsia Academy, and to have over 21 million monthly orders on AirAsia grocer, all aimed to be achieved by 2026.
This proves that AirAsia Group’s new identity is more than just an airline, and its new name is Capital A that will start an exciting new era. However, the name change will not have any effect on their ongoing operations.
