- July 7, 2021
- Posted by: Stratford Team
- Category: Business
KUALA LUMPUR/BANGKOK (Reuters) -Malaysian budget carrier AirAsia Group said it will buy Indonesian ride-hailing and payments firm Gojek’s Thailand business in a stock swap, giving Gojek a 4.76% stake in the airline’s lifestyle platform.
FILE PHOTO: Airasia planes are seen parked at Kuala Lumpur International Airport 2, amid the coronavirus disease (COVID-19) outbreak in Sepang, Malaysia October 6, 2020. REUTERS/Lim Huey Teng/File Photo
AirAsia will acquire Gojek’s business in return for $50 million worth of shares in AirAsia SuperApp, valuing the division at around $1 billion, more than the pandemic-hit airline’s current market value of $868 million at a time when it has been looking to raise more capital.
The agreement with the Indonesian startup unicorn comes just a week after AirAsia applied for a digital banking licence in Malaysia, signalling a shift in focus towards digital business as most of its fleet remains grounded amid coronavirus…
