Expedia ups AirAsia venture ownership

Expedia ups AirAsia venture ownership

Expedia has announced that it has entered into an agreement with AirAsia Berhad to purchase an additional 25% equity interest of AAE Travel Pte. Ltd, according to eTN.

This joint venture formed between the two companies in 2011, will be purchased for cash consideration of $86.3 million. This investment will increase Expedia’s total ownership in the joint venture to 75%, writes eTN.

“Asia continues to be a fast-paced, growing market, and partnering with a powerful brand like AirAsia has been instrumental in driving the expansion of our business in the region,” Expedia’s president and CEO Dara Khosrowshahi said.

“We continue to value and look forward to a great ongoing relationship with them as we bring our world-class technology and supply to travelers across Asia.”

AirAsia’s group CEO Tony Fernandes was also quoted by eTN, saying the partnership with Expedia continues to be a great success for both companies.

“We are excited to continue the close relationship between Expedia and AirAsia to deliver unrivaled travel experiences for Asian consumers,” he said.

The transaction is expected to close in the first half of 2015, at which point Expedia expects to include the AirAsia-Expedia Joint Venture financial results in Expedia’s consolidated financial statements.

Latest News

  • Cruise

P&O rescues Rotary volunteers after collapse of Air Vanuatu

P&O Cruises Australia has answered a plea for help from a group of young Australian Rotary volunteers, stranded in Vanuatu following the collapse of Air Vanuatu. The students, many of them teenagers from Albury, NSW, were volunteering for a youth project run by the Hive Rotary Club Australia when the airline abruptly cancelled all flights, […]

  • Destinations

Intrepid continues expansions with launch of first DMC in Jordan

Intrepid has increased its presence in the Middle East with the opening of its first destination management company in Jordan. Based in Amman, the local team will operate Intrepid’s range of nine experiential small group tours in Jordan from this summer, with a view to expanding the range for 2025 and beyond. Zina Bencheikh, managing […]

  • Appointments

Minor hotels appoints Puneet Dhawan to key Asia role

Global hotel owner and operator Minor Hotels has appointed Puneet Dhawan as head of Asia as the group plots its growth in Asia and India. From July, Dhawan will be responsible for the performance of all Minor Hotels properties in Asia, working in close collaboration with the Minor Hotels senior leadership team and will report […]

  • Appointments

Abercrombie & Kent and Crystal appoint Evon Ler to director of sales, Asia

Abercrombie & Kent Travel Group have announced that Evon Ler will join them in the new role of director of sales, Asia. She will work closely with Tony Archbold (VP, Sales, APAC, Crystal) and Susan Haberle (VP, Sales & Partnerships, APAC, A&K) with trade support across the region. Ler comes to the A&K family with more […]