Expedia Buys AirAsia’s Remaining 25% Equity in AAE Travel

Wed, 15 August 2018

	Media Services	Videos / Interviews	Podcasts	Pictures	Travel Industry News
Expedia Buys AirAsia’s Remaining 25% Equity in AAE Travel

Expedia has purchased the remaining 25% equity of AirAsia Berhad’s interest in AAE Travel Pte Ltd, the joint venture formed by the two firms in March 2011 and in which Expedia Group has held 75% equity since 2015.

The cash consideration is $60 million, net of AirAsia’s concurrent purchase of AirAsiaGo.com domain names and related assets from AAE Travel Pte Ltd.

Thai AirAsia X and Thai AirAsia aircraft at Don Mueang Airport in Bangkok, Thailand on 25 June 2018. Picture by Steven Howard of TravelNewsAsia.com Click to enlarge.

AirAsiaGo.com, which offers a full suite of travel products including AirAsia flight and hotel packages featuring Expedia Group lodging content, will continue to be powered by Expedia Group.

“AirAsia has been a fantastic partner for the past seven years, helping to establish Brand Expedia as a strong and increasingly locally relevant player in the Asia region,” said Mark Okerstrom, President and Chief Executive Officer, Expedia Group. “Acquiring full ownership of AAE Travel reflects our belief in the immense potential for us in the over $485 billion Asian travel market. This transaction unlocks better integration of our Brand Expedia Asia business into our core global travel platform, giving us even greater confidence in our ability to harness the huge growth potential that Asia represents.”

Tony Fernandes, Group CEO of AirAsia, said, “Expedia Group has been a great partner to AirAsia and we look forward to continuing to work very closely in the future, particularly regarding regional and global distribution of AirAsia flights. This sale represents the divestment of the last of our non-core investments from the previous round of joint ventures. These proceeds will be used to develop big unicorn products such as BigPay, Travel 360, Redbox Logistics and Ourshop. This first set of joint ventures has taught us a tremendous amount and shareholders who have seen huge returns from our first round of partnerships haven’t seen anything yet.”

Headlines:

Mandarin Oriental Opens Special Hotel in Beijing, China AirAsia to Launch Penang - Shenzhen and Kota Kinabalu - Shantou Flights Boeing Forecasts Passenger and Cargo Needs of China's Aviation Industry Air Corsica Takes Delivery of ATR's 1,700th Turboprop Aircraft Minor Hotels to Open Anantara Resort Ubud Bali in October Uruguayan Air Force to Add A-29 Super Tucano Aircraft to Fleet Air Astana to Increase Flights to Phuket, Thailand; Signs Codeshare Deal with JAL Hong Kong Airlines to Resume Long-Haul Flights with Seasonal Gold Coast Service IHG Signs Two Hotels in Quang Binh, Vietnam Marriott Opens Moxy Hotel in Mumbai, India Torsten Richter Returns to Minor Hotels as AGM of Indonesia and Malaysia Minor Set to Open World's Third NH Resort in Maldives Asiana Airlines and Air Serbia Appoint APG as GSA IndiGo to Launch New Delhi - Vijayawada Flights Hong Kong Airport Reports Strong Increases in Cargo and Passenger Traffic Delta Begins Rollout of Free Wi-Fi on Long-Haul International Routes Thai AirAsia X to Resume Flights Between Bangkok and Sydney, Australia Marriott Partners Sonder to Add Over 9,000 Rooms to Portfolio IHG Opens Hotel Indigo in Bandung, Indonesia IndiGo Enhances Operations with Aviobook, an Electronic Flight Folder from Thales Boeing Invests in Wagner SAF Refinery in Brisbane, Australia Aeroflot to Resume Flights Between Yekaterinburg and Bangkok, Phuket and Goa Air Astana Takes Delivery of 56th Aircraft; Confirms Plan to Launch Phu Quoc Flights Seibu Prince Rebrands Hotel in Singapore airBaltic Appoints APG as GSA in Egypt Korean Air and Delta Air Lines Partner Habitat for Humanity to Make a Difference in Cheonan Air New Zealand, Garuda, Qantas and Singapore Airlines Begin UPR Trials on 38 Routes Thai AirAsia Reports Q2 and H1 2024 Results; Confirms Full-Year Targets EL AL Israel Airlines Finalises Deal for 31 Aircraft Cebu Pacific to Launch Davao - Hong Kong and Iloilo - Singapore Flights Poland to Become Largest Operator of Apache Combat Helicopters Outside of USA Singha Estate Partners Ascott for Rebranding of Two Hotels in the United Kingdom IndiGo to Launch Coimbatore - Singapore Flights; Increase Frequency of Select Services Parveen Kumar Joins Grand Hyatt Jakarta as General Manager Azerai Appoints Jimmy Tran as Group Director of Sales & Marketing South Korea to Strengthen Airborne Surveillance and Reconnaissance Capabilities AirAsia to Launch Flights from Kuala Lumpur to Port Blair in Andaman and Nicobar Islands Virgin Australia to Replace Fokker 100s with Embraer E190-E2 Aircraft Cross Adds Two Hotels in Bangkok, Thailand to Portfolio airBaltic Exercises Options on 10 Airbus A220-300 Aircraft Etihad to Increase Thailand Flights; Resume A380 Service to Singapore Dusit Signs Hotel and Condo on Rama 3 Road in Bangkok, Thailand Cape and Kantary Hotels to Expand Portfolio with Serviced Suites in Korat, Thailand Thai Airways Reports Q2 and H1 2024 Results China Airlines Extends Cargo Handling Contract with FCS Goldfinch Becomes First Piloted Electric Aircraft to Fly at NASA's Langley Research Center Rosewood Signs Luxury 33-Suite Resort in Exuma, Bahamas British Airways Expands Codeshare with Bangkok Airways Aeroflot Unveils Most Popular International Destinations in H1 2024 Marriott Executive Apartments Open on Sukhumvit Soi 49 in Bangkok, Thailand Uday Rao Appointed RVP and GM of Four Seasons Hotel Tokyo at Otemachi in Japan Cebu Pacific to Resume International Flights and Increase Domestic Services from Davao CapitaLand Ascott Trust Secures OCBC 1.5Â°C Loan Sabre Hospitality Enhances SynXis Booking Engine with Trip Protection Services Cathay Pacific Orders 30 Airbus A330-900 Aircraft Haytham Said Appointed GM of Four Seasons Hotel Miami Hong Kong Airport Launches World's First Smartphone Express Bag Drop Service Marriott Signs W Hotel in Hangzhou, China IndiGo Selects Recaro's R2 and R5 Seats for New A321neo Aircraft Scoot to Take Delivery of Jalan-Jalan and Travel Kaki E190-E2s in September and October Ali Mohammed Appointed Regional Vice President and GM of Four Seasons Resort Orlando Marriott Opens Fourth Executive Apartments Property in Bangkok, Thailand AirAsia X to Resume Kuala Lumpur - Chongqing Flights Norse Operates Non-Stop Charter Flight from Oslo to Darwin, Australia Wyndham Reports Record H1 Growth in Asia Pacific LOT Polish Airlines Takes Delivery of First Embraer E195-E2 Vietnam Airlines Takes Delivery of Fifth Boeing 787-10 Aircraft Marriott Expands Executive Apartments Brand to Penang, Malaysia AirAsia Group Expands Fleet with Four Airbus A321neo Aircraft IATA Reports Latest Airline Passenger Traffic Data China Airlines Signs SAF-Related MOU with Morrison Express Fairfield by Marriott Hotel Opens in Terengganu, Malaysia IATA Reports Latest Global Air Cargo Data Marriott Opens Fifth Autograph Collection Hotel in Japan Matthew Smith to Succeed Monique Arnoux as CEO of Destination Asia American Airlines Renews Subscription to Prism IndiGo to Increase Domestic Connectivity from Hyderabad and Ahmedabad Shanghai Pudong Airport Installs 52 Kiosks and 14 Self-Service Bag Drops from SITA Hong Kong Airport Handled 4.3 Million Passengers and 29,590 Flight Movements in June Croatia Airlines Takes Delivery of First Airbus A220 Ryanair to Implement Boeing's Jeppesen FliteDeck Pro 5.0 EFB Asia Pacific Airlines Carried 28.9 Million International Passengers in June Singapore Changi Airport Reports Q2 2024 Traffic Cat Wu Returns to Singapore as Executive Director of Revenue for Two Hotels Langham Appoints Jack Xiao as Senior Vice President of Operations - China NATO Selects Sikorsky X2 Rotorcraft for Integrated Platform Concept Study Malaysia Airlines Expands Retailing Strategy with NDC Content on Travelport Air Tahiti Orders Four ATR 72-600 Aircraft AirAsia Airlines Implement Flight Tracking and Monitoring Solution from SITA One Air to Expand Fleet with Third Boeing 747-400 Freighter FCM Travel Expands Cytric Distribution Agreement with Amadeus Cathay Pacific Expands 1 Ticket, 1 Tree Initiative to Include Cargo Japan Airlines Confirms Order for 20 Airbus A350-900s and 11 A321neos Embraer E190 Freighter Receives ANAC Type Certification Libya's Berniq Airways Orders Six A320neo Family Aircraft Qatar Airways Adds 20 Boeing 777-9 to Order Book Accor Signs Raffles Hotel in Tokyo, Japan Thai AirAsia to Launch Bangkok - Hyderabad and Phuket - Siem Reap Flights Courtyard by Marriott Hotel Opens in Sapporo, Japan Qatar Airways Unveils Qsuite Next Gen at Farnborough Airshow 2024 British Airways Increases Number of Funded Places in Speedbird Pilot Academy Mandarin Oriental Signs Hotel and Residences in Bali, Indonesia Minor Hotels Signs Dual-Branded Property in Yining, China Korean Air Takes Delivery of First Boeing 787-10 Dreamliner Two Senior Promotions at IHG Asia Pacific Airbus A321XLR Powered by CFM LEAP-1A Engines Receives EASA Type Certification Thai AirAsia X to Relocate All Flight Operations to Don Mueang Airport in Bangkok New Dusit Thani Bangkok Hotel to Open 27 September 2024 CWT Upgrades Airfare Optimization Service with AI and Machine Learning Small Luxury Hotels of the World Returns to India with MRS Group Partnership SATS and SF Group Sign MOU to Expand Global Footprint Thai AirAsia to Launch Don Mueang - Lampang Flights Hong Kong Welcomed 3.13 Million Visitor Arrivals in June 2024 China Airlines Launches Direct Flights Between Taipei and Seattle, USA London Heathrow Airport Expands Partnership with SITA bp Partners Audi Formula 1 Team Qantas Launches Non-Stop Flights Between Perth and Paris, France SITA Reports Record Results; Future of Air Travel Interview with Sumesh Patel, President, SITA Asia Pacific Miss International Queen 2024 - Video Interview with MD of Tiffany's Show Pattaya High-Speed Fun in Denmark! HD Video Interview with Aarhus Sea Rangers 16 Exclusive HD Video Interviews from Routes Europe 2024 in Aarhus, Denmark 9 Exclusive HD Video Interviews from Routes Asia 2024 in Langkawi, Malaysia 9 Exclusive Video Interviews with VIPs at ASEAN Tourism Forum 2024 in Vientiane, Laos 8 NTO Press Conferences from the ASEAN Tourism Forum 2024 in Vientiane, Laos 13 Exclusive HD Video Interviews from World Travel Market 2023 in London, England 5 Exclusive HD Video Interviews from APG World Connect 2023 in Monaco, France 15 Exclusive HD Video Interviews from Routes World 2023 in Istanbul, TÃ¼rkiye Electric Airport Taxis at Almaty Airport in Kazakhstan - Video Interview with Co-Founder Pictures from Miss International Queen 2023 Transgender Beauty Pageant in Pattaya, Thailand Exclusive Video Interviews with 17 Miss International Queen 2023 Contestants Living With One Eye - Six Years On by Steven Howard HD Videos and Interviews Podcasts from HD Video Interviews RSS Feed - Travel Industry News Ticker - Travel Industry News Travel Industry News Archives Travel Trade Shows High-Res Picture Galleries Travel News Asia - Latest Travel Industry News

See latest HD Video Interviews, Podcasts and other news regarding: Expedia, AirAsia.

Subscribe to our Travel Industry News RSS Feed . To do that in Outlook, right-click the RSS Feeds folder, select Add a New RSS Feed, enter the URL of our RSS Feed which is: https://www.travelnewsasia.com/travelnews.xml and click Add. The feed can also be used to add the headlines to your website or channel via a customisable applet. Have questions? Please read our Travel News FAQ. Thank you.

Latest Travel Trade News

Advertising

Advertise Here