Date: 28 January 2013
AirAsia charts five-year strategy, shifts focus outside of
Malaysia.
Sepang
AIRASIA has unveiled its strategic five-year business review
with an eye to further grow its dominance in the Asian region.
As Malaysia has become “a cash machine”, the management will
turn its focus to other core markets in Thailand and Indonesia, which are
expected to generate similar profits to Malaysia in the future, according to
group CEO Tony Fernandes.
“The other focus is to develop our new entities in
Philippines and Japan whereby in terms of LCC penetration, they are still at
their infancy and there is utmost growth potential,” he said.
“India is an exciting market, and I have been overwhelmed
with the developments of the country recently in terms of promoting air travel.
We will continue to explore opportunities there but I believe this market
offers the most growth potential in terms of travel.”
Whilst other Asian countries like Vietnam, Cambodia, Laos,
Brunei, Myanmar and South Korea seem attractive, AirAsia will focus on the
group’s existing operations that offer bigger domestic alternatives and with
larger populations. AirAsia will not proceed with any venture in Singapore in
the foreseeable future too, Fernandes revealed, citing excess capacity out of
the city-state.
AirAsia recorded a strong performance during the fourth
quarter and 2013 is expected to be better in load factors and yields, he
reported. The group will announce its full-year results in February. The
company has also placed an order of 475 aircraft, of which 114 have been
delivered.
Copyright @ TTG Asia Media Pte Ltd 2013
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