AirAsia's Fernandes says company seeks more non-air acquisitions

COVID-hit budget carrier increasingly pins hopes on 'superapp' to diversify

AirAsia is increasingly betting on growth opportunities outside its core airline business. © Reuters

P PREM KUMAR, Nikkei staff writer

August 24, 2021 16:55 JST

KUALA LUMPUR -- Low-cost carrier AirAsia is looking at five more acquisitions to boost its non-airline business operations to counter its ailing core flight service, hit hard by the coronavirus pandemic, AirAsia Group CEO Tony Fernandes said Tuesday.

The acquisitions, to be announced in stages, will enable the company to fill in gaps that are standing in the way of its drive to become a key "superapp" provider and catch up to Southeast Asia's top players -- Singapore's Grab and Indonesia's Gojek