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AirAsia Group Bhd.

Company Background

From its beginnings with just two jets and debt of $11 million in 2001, AirAsia has grown to become a profitable short-haul budget carrier in Asia with a fleet of close to 200 aircraft. The group operates mainly in Asia-Pacific region, including operations in Indonesia, the Philippines and Thailand. AirAsia recently launched AirAsia India in an alliance with Tata Group, plying India's domestic market. It is also seeking a re-entry into Japan in a tie-up with Rakuten Japan, after its first joint venture with All Nippon Airways broke up in 2013.


AirAsia is 23% owned by Tune Air, a private company controlled by Group CEO Tony Fernandes, a former executive of music producer Time Warner. Inspired by the success of its peer Ryanair in Europe, he runs the airline strictly adhering to the low-cost and no-frills business model, and made flying affordable to many in Asia. AirAsia's success has led to the burgeoning of budget carriers in the region, many of which are owned by full-service airline companies. The group recently introduced premium services targeting business travelers and parcel delivery services to boost its ancillary income. Its listed associate, AirAsia X, is a long-haul budget carrier, flying all over Asia.

Business Summary

AirAsia Group Bhd. engages in the provision of air transportation services. It operates through the following geographical segments: Malaysia, Thailand, and Indonesia. The company was founded by Abdel Aziz bin Abu Bakar, Anthony Francis Fernandes, Conor John McCarthy, and Kamarudin bin Meranum in 1993 and is headquartered in Kuala Lumpur, Malaysia.

Financial Highlights

Dec 2019 MYRUSD
Gross Profit1,226.23M295.97M
Operating income75.75M18.28M
Income before tax-72.78M-17.56M
Net income-315.80M-76.22M
Diluted EPS-0.09-0.02
Dividends Per Share00
Total Assets25,594.71M6,257.11M
Total liabilities22,683.97M5,545.52M
Total equity4,498.33M1,099.70M
Operating cash flow2,087.45M503.85M
Currency in MYRCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 6,297.65M 6,846.08M 9,709.72M 10,638.29M 11,860.40M
Gross Profit 1,621.65M 1,995.88M 1,853.18M 805.14M 1,226.23M
Operating income 1,351.18M 1,879.09M 1,629.40M 25.66M 75.75M
Income before tax 215.15M 1,704.69M 2,087.78M 1,335.23M -72.78M
Net income 541.19M 1,621.65M 1,628.77M 1,967.00M -315.80M
EBITDA 2,054.44M 2,590.21M 2,493.67M 611.01M 1,539.47M
Diluted EPS 0.19 0.58 0.49 0.58 -0.09
Dividends Per Share 0.04 0.12 0.12 0.24 0
Total Assets 21,888.23M 23,653.45M 23,528.26M 19,446.59M 25,594.71M
Total liabilities 17,437.38M 17,025.67M 16,818.18M 13,261.32M 22,683.97M
Total equity 4,452.32M 6,632.98M 8,048.11M 7,784.45M 4,498.33M
Operating cash flow 2,256.14M 2,244.77M 2,052.46M 524.07M 2,087.45M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 1,610.78M 1,652.56M 2,258.32M 2,636.25M 2,862.77M
Gross Profit 414.78M 481.78M 431.02M 199.52M 295.97M
Operating income 345.59M 453.58M 378.97M 6.35M 18.28M
Income before tax 55.03M 411.49M 485.58M 330.88M -17.56M
Net income 138.42M 391.44M 378.82M 487.44M -76.22M
EBITDA 525.47M 625.24M 579.99M 151.41M 371.58M
Diluted EPS 0.04 0.14 0.11 0.14 -0.02
Dividends Per Share 0.01 0.02 0.02 0.05 0
Total Assets 5,097.99M 5,272.72M 5,813.75M 4,705.76M 6,257.11M
Total liabilities 4,061.34M 3,795.29M 4,155.71M 3,209.03M 5,545.52M
Total equity 1,036.99M 1,478.59M 1,988.66M 1,883.71M 1,099.70M
Operating cash flow 577.06M 541.86M 477.37M 129.87M 503.85M

Valuation Measures

Dec 2019
Operating margin0.63%
Profit margin-2.66%

Key executives

  • Chief Executive Officer: Tharumalingam Kanagalingam
  • Chief Operating Officer: Adrian Jenkins
  • Group Chief Financial Officer: Pattra Boosarawongse
  • Group Head-Information & Communication Technology: Kin Choy Lau
  • Head-Engineering: Nadzri Hashim


  • Tune Air Sdn Bhd (15.4%)
  • Tune Live Sdn. Bhd. (15.2%)
  • Permodalan Nasional Bhd. (7.4%)
  • Employees Provident Fund (2.0%)
  • Great Eastern Life Assurance Co. Ltd. (1.5%)
  • The Vanguard Group, Inc. (1.4%)
  • Dimensional Fund Advisors LP (1.1%)
  • Global Success Network Sdn. Bhd. (0.5%)
  • Bhd. (0.4%)
  • Research Affiliates LLC (0.4%)

Contact Details

  • Website:
  • Address: RedQ, Jalan Pekeliling 5, Kuala Lumpur, 64000, Malaysia
  • Phone: +60.3.8660.4333

Related Companies

  • Merah Aviation Asset Holding Ltd.
  • AirAsia Digital
  • Airasia Bhd.
  • RedTix Sdn. Bhd.
  • Koolred Sdn. Bhd.
  • Asia Aviation Capital Ltd.
  • AirAsia Megastore Sdn. Bhd.
  • AirAsia Asean, Inc.
  • AirAsia, Inc.
  • Tune Box Sdn. Bhd.
  • AirAsia (Mauritius) Ltd.
  • AirAsia Go Holiday Co. Ltd.
  • AirAsia Go Holiday Sdn. Bhd.
  • AirAsia Exp Pte Ltd.
  • AirAsia Investment Ltd.
  • Tune Hotels Sdn. Bhd.
  • AA International Ltd.
  • Aras Sejagat Sdn. Bhd.
  • Crunchtime Culinary Services Sdn. Bhd.


  • Cebu Air Inc.
  • PT Garuda Indonesia (Persero) Tbk Class B
  • PAL Holdings, Inc.
  • SpiceJet Limited
  • Nok Airlines Public Co., Ltd.
  • InterGlobe Aviation Ltd
  • Qantas Airways Limited
  • Bangkok Airways Public Co., Ltd.
  • JG Summit Holdings Inc.
  • International Consolidated Airlines Group SA
  • Controladora Vuela Compania de Aviacion SAB de CV Class A
Last Updated on 21 Jan, 2021

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