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Deepti Sri · · 1 min readAirAsia to raise $300m for digital unit to fuel super-app ambition, sources say
“AirAsia Group plans to raise as much as US$300 million to expand its digital business arm AirAsia Digital,” Bloomberg reported, citing people familiar with the matter.
Details:
- AirAsia is reportedly in discussions with at least one advisor for its digital unit’s first financing round.
- As part of its fundraising, the company could also issue new shares of its digital arm.
Context:
- In March, founder and CEO Tony Fernandes estimated that AirAsia’s super app would record a turnover of US$250 million this year.
- Recently, Fernandes said that the airline is looking to enter the ride-hailing business, taking on regional heavyweights like Grab and Gojek.
Editing by Collin Furtado and Eileen C. Ang
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