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AirAsia to raise $300m for digital unit to fuel super-app ambition, sources say

Briefing
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Deepti Sri · 6 Apr 2021 · 1 min read

AirAsia to raise $300m for digital unit to fuel super-app ambition, sources say

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“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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