Latest news with #TonyFernandes
Business Times
2 days ago
- Business
- Business Times
Food Empire partners AirAsia to launch ready-to-drink beverages
[SINGAPORE] Mainboard-listed Food Empire will partner low-cost airline AirAsia to co-develop and launch a new range of ready-to-drink beverages. The memorandum of understanding was signed between Food Empire's unit Empire International and AirAsia's Santan Food Services, said the statement on Thursday (Jul 17). Tony Fernandes, chief executive of AirAsia and its Malaysia-listed parent company Capital A, said that the partnership aims to create a product that reflects South-east Asia's culture and heritage. It will also pave the way for the companies to collaborate on co-branded and private label initiatives, Food Empire and Santan Food Services said. The partnership will kick off with a Vietnamese iced coffee product that will be sold on board flights of the Malaysian budget airline co-founded by Fernandes, and through regional retail channels under the Santan brand. With evolving consumer preferences in mind, the companies said they aim to deliver 'authentic and great-tasting Vietnamese iced coffee products that cater to modern lifestyle trends, including healthier options with less sugar'. Tan Wang Cheow, executive chairman of Food Empire, said: 'This collaboration with Santan aligns with our strategy to cater to consumer trends and bring an authentic CafePho Vietnamese coffee experience on AirAsia flights, so that more people can enjoy our great-tasting beverages.' Food Empire is a multinational food-and-beverage manufacturing and distribution company headquartered in Singapore. Its portfolio spans instant beverages, snack foods and food ingredients, including coffee mixes, chocolate drinks, instant cereal blends and potato chips. It sells products in more than 60 countries globally.
Business Times
2 days ago
- Business
- Business Times
Food Empire, AirAsia partner to launch ready-to-drink beverages
[SINGAPORE] Food Empire will collaborate with low-cost airline AirAsia to co-develop and launch a new range of ready-to-drink beverages. The collaboration was formalised with a memorandum of understanding signed between Food Empire's subsidiary Empire International and AirAsia unit Santan Food Services, said both companies on Thursday (Jul 17). It will kick-off with a Vietnamese iced coffee product that will be sold on flights of the airline co-founded by Tony Fernandes and through retail channels across the region. This will pave the way for the companies to explore further co-branded and private label initiatives across a wider range of beverages and snack products. Fernandes, the chief executive officer of AirAsia and its parent company Capital A, said that the partnership aims to create a product that reflects South-east Asia's culture and heritage. Wang Cheow, executive chairman of Food Empire said: 'This collaboration with Santan aligns with our strategy to cater to consumer trends and bring an authentic CafePho Vietnamese coffee experience on AirAsia flights, so that more people can enjoy our great-tasting beverages.'
Malay Mail
09-07-2025
- Business
- Malay Mail
AirAsia's investor talks take flight as restructuring nears endgame
SINGAPORE, July 9 — Budget airline AirAsia is nearing the conclusion of talks with potential strategic investors as the Malaysia-based airline approaches the end of its restructuring process, Deputy Group CEO Farouk Kamal said today. The airline, whose parent company Capital A was classified as financially distressed by Malaysia's stock exchange in 2022, is arranging a RM1 billion equity injection alongside financing for its extensive order book of new planes, Kamal said, speaking on a panel at the Reuters NEXT Asia summit. Capital A Group CEO Tan Sri Tony Fernandes said in March that the RM1 billion private placement was 'done', but has not disclosed the identity of the investors. He declined to comment on a Bloomberg report in March that Saudi Arabia's sovereign wealth fund was set to invest US$100 million (RM425.3 million). Kamal said AirAsia was coming to the final conclusion of talks with investors 'not just from an equity injection perspective, but from an overall transactions perspective', and hopes to make an announcement in 'due course'. AirAsia, one of Asia's largest low-cost carriers and one of Airbus' largest customers, has around 360 planes on order. On Friday, AirAsia signed a memorandum of understanding with Airbus to buy 50 long-range A321XLR planes with conversion rights for another 20 of the single-aisle jets. Fernandes said last week he hoped to exit the financially distressed status soon, once restructuring efforts are complete. As part of this, Capital A is in the process of selling its AirAsia aviation business to long-haul unit AirAsia X to consolidate long- and short-haul operations under a single AirAsia brand. — Reuters
Time of India
08-07-2025
- Business
- Time of India
AirAsia signs MoU for 70 Airbus A321XLR aircrafts
PUNE: AirAsia Berhad, a wholly-owned subsidiary of Capital A Berhad, signed an agreement with Airbus valued at USD12.25 billion for 50 A321XLRs with rights for 20 A321XLRs. With this agreement, the airline takes a major step towards becoming the world's first low-cost narrow-body network carrier, anchored by its multi-hub strategy. The aircraft are scheduled for delivery commencing 2028 through 2032. Witnessed by Prime Minister of Malaysia YAB Dato' Seri Anwar Ibrahim, the agreement was signed in Paris between Tony Fernandes, CEO of Capital A, and Christian Scherer, CEO of Airbus Commercial Aircraft. Tony Fernandes, CEO of Capital A and Advisor & Steward of AirAsia Group said, 'We pioneered low-cost travel in Asia – now, we are taking it to the next level. AirAsia is on a transformative journey to become the world's first low-cost network carrier. This is about exponential growth, connecting geographies beyond Asean, and making flying even more democratic. We gave people in Asean the opportunity to explore Asia – now we want the world to see Asean, and Asean to see the world. The A321XLR and A321LR are the game-changers enabling this vision, and we are proud to lead the charge in making our world smaller. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Jolie-Pitt Family Supports For Shiloh's Change Drivepedia Undo We can't wait to paint the skies even wider in red.' Christian Scherer, CEO Commercial Aircraft at Airbus said: 'We are pleased to confirm this agreement, as AirAsia Group begins its next development chapter. Having resumed its growth trajectory, which we salute and support, the airline is creating solid fleet efficiencies, allowing global network expansion. The A321XLR unlocks new opportunities for AirAsia to launch non-stop flights linking primary and secondary cities all around the globe. ' The next-generation A321XLRs will operate alongside AirAsia's all-Airbus fleet of A320 Family and A330 aircraft, supporting its long-term strategy to deliver unmatched connectivity across Asia and beyond, while maintaining a low-cost model through improved route economics, enhanced aircraft utilisation and fleet efficiency. AirAsia Group aims to carry 150 million guests annually by 2030, reaching a cumulative total of 1.5 billion guests since inception. The new fleet plays a pivotal role in this transformation. AirAsia's multi-aircraft strategy enables the airline to match capacity with demand, reduce fuel consumption, and support a sustainable, cost-effective growth model in a highly competitive global landscape. The A321XLR also offers up to 20 per cent lower fuel burn per seat than the Airbus A321neo aircraft, significantly improving emissions performance and operating efficiency. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Skift
07-07-2025
- Business
- Skift
AirAsia Orders 50 Long-Range Airbus Jets in $12 Billion Deal to Extend Global Reach
The A321XLR flies farther, burns less fuel, and doesn't come with the high costs of bigger aircraft. AirAsia surely seems to be betting on smaller planes to do big things. AirAsia on Saturday announced one of the biggest aircraft purchases in its history. The Malaysian budget carrier signed a deal worth $12.25 billion for 50 Airbus A321XLR jets, with options for 20 more. The planes will start arriving in 2028 and keep coming through 2032. According to Tony Fernandes, CEO of AirAsia parent Capital A, the goal is to create "the world's first low-cost network carrier," something that works like full-service airlines such as Emirates or Qatar Airways, but at a fraction of the cost. "We pioneered low-cost travel in Asia – now, we are taking it to the next level," Fernandes said. "We gave people in Asean the opportunity to explore Asia – now we want the world to see Asean, and Asean to see the world. The A321XLR and A321LR are the game-changers enabling this vision." News reports quoting Fernandes said the airline is in advanced discussions with aircraft makers for a potential order of up to 150 planes. While AirAsia has not yet confirmed the specific aircraft model, it is reportedly talking to multiple manufacturers, including Embraer and Airbus. The airline is expected to make an announcement by next month. AirAsia signed its latest Airbus XLR deal in Paris, during the Malaysian Prime Minister's visit to France. The A321XLR stands for "extra long range." Even as it is a narrow-body jet, meaning it has a single aisle, these new A321XLR jets can fly much farther than regular narrow-body planes. While a regular A321 can fly about 4,000 miles, the XLR can go up to 4,700 miles. That opens up connectivity options from Southeast Asia to parts of Europe or reach deep into Central Asia and the Middle East. Business Case Behind the Order AirAsia already has a massive order book. The airline group has commitments for over 300 Airbus planes across its operations in Malaysia, Thailand, Indonesia, the Philippines, and Cambodia. This new order adds to 20 A321XLRs they already ordered. During the Airbus leadership's visit to AirAsia headquarters last year, Fernandez said, 'Our commitment to Airbus never faltered, even through the pandemic. As one of their biggest customers, we have an orderbook of 647 aircraft consisting of 612 A320 Family and 35 A330 Family aircraft with another 362 A321neo, 20 A321XLR and 15 A330neo to be delivered over the next decade.' Talking about the XLRs, AirAsia said in a release, "The A321XLR also offers up to 20 per cent lower fuel burn per seat than the Airbus A321neo aircraft, significantly improving emissions performance and operating efficiency." The longer range opens up markets AirAsia couldn't reach before. Fernandes mentioned several regions where the airline sees opportunity. Reaching New Markets Saudi Arabia tops the list. The kingdom is spending billions on tourism and Fernandes called it a "potential hub" and a priority market for AirAsia along with United Arab Emirates and Bahrain. The airline is also looking at Central Asian countries like Kazakhstan and Uzbekistan. "These are great markets and great for our whole network," Fernandes said during the Paris Air Show. The ariline also said it plans to open a new hub in the Gulf before the end of the year to tap Europe-bound traffic. The four airports it is considering also includes Ras Al Khaimah in UAE. China remains strong despite geopolitical tensions. Ferandes said AirAsia is the largest international airline flying into China, serving over 20 destinations. India is "booming" for the carrier. Timing and Delivery Challenges The first A321XLR won't arrive until 2028. That's partly because Airbus has a huge backlog of orders. But speaking with CNBC at the Paris Air Show last month, Fernandes said the aircraft delivery timing actually worked out during the pandemic recovery. "In some ways, it's not been bad, because we're coming out of Covid, and so we're getting all our planes back in," he said. "We were lucky in a strange way, that we weren't so affected because we were getting back from the horrible Covid era." AirAsia will start taking delivery of the shorter-range A321LR version in 2026, with four planes arriving that year. The airline is reportedly trying to negotiate earlier delivery dates for the XLR version. Having carried over 63 million passengers in 2024, AirAsia wants to carry 150 million passengers annually by 2030. The new aircraft are central to reaching that goal. Whether this strategy works depends on execution. Operating a network airline is more complex than running point-to-point flights. Capital A CEO Tony Fernandes at Skift Global Forum East in Dubai
