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AirAsia Group Possibly Merging Thai AirAsia and Indonesia AirAsia
6th May 2016
Malaysia-based airline AirAsia Group is considering merging Thai AirAsia and Indonesia AirAsia into one and using Thailand as the regional headquarters for the ASEAN for the group.
The potential merger came up as a possibility after the meeting between Thailand’s Prime Minister Prayut Chan-o-cha and Deputy Prime Minister Somkid Jatusripitak. Jatusripitak said:
They will likely merge… subsidiaries in Indonesia and Thailand, but could still continue to use a dual listing in both Malaysia and Thailand.
A spokesperson for Indonesia AirAsia declined to reveal the details of a merger with Thai AirAsia, but did say the airline is studying the possibility:
We will update the information later, but at the moment I cannot give a statement as the project is still under review.
Indonesia AirAsia has also announced it will cut its Kota Kinabalu-Denpasar route for June, blaming “stagnant market growth and increased operational costs” at the Kota Kinabalu International Airport.
Lester City Owner King Power Eyeing Thai AirAsia
Speaking of Thai AirAsia, King Power International Group, the owner of the English Premier League champion Leicester City Football Club (LCFC) is apparently looking into the possibility of buying the budget airline.
According to reports, King Power planned to enter the aviation industry and thus grow sales at its duty-free shops. The report said:
The Srivaddhanaprabha family has reportedly spent three billion baht (RM1=8.55 baht) buying shares in Asia Aviation, leading it to become the largest shareholder in the airline company with a 23 per cent stake.
King Power is owned by billionaire Vichai Srivaddhanaprabha, who is also the chairman of the newly-crowned English PL champion. Mr Vichai became the chairman of LCFC in 2010 when King Power bought into the club.
Vichai is the ninth richest man in Thailand, according to Forbes magazine.
Asked about this, Thai AirAsia Chief Executive Officer Tassapon Bijleveld denied any such takeover of the budget carrier.
King Power operates duty-free shops at several airports in Thailand, including Don Muang, Suvarnabhumi, Phuket, Chiang Mai, Hat Yai and Pattaya and at the King Power Complex in the Thailand capital city of Bangkok.
Update: Thai AirAsia's publicly-listed shareholder Asia Aviation (AAV) has since dismissed the reports that King Power might buy a stake in the budget airline.
In a statement released this week, AAV said:
No deal whatsoever has been struck concerning the sale of any stake in the firm.
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