Tycoon Tony Fernandes’ Capital A Forms AirAsia Cambodia As Budget Carrier Seeks New Growth Markets

AirAsia Aviation Group—controlled by Malaysian tycoons Tony Fernandes and Kamarudin Meranun’s Capital A—on Friday agreed to form AirAsia Cambodia with Phnom Penh-based Sivilai Asia as the budget carrier seeks new growth opportunities amid a post-pandemic travel rebound across Southeast Asia.

Subject to regulatory approvals, AirAsia Cambodia will start commercial operations in the second half of 2023, with an initial fleet of four narrow-body Airbus A321s, Fernandes said. The new airline will be led by Cambodian entrepreneur Vissoth Nam as CEO.

“An increase in connectivity alongside best value fares, will certainly stimulate demand for air travel,” Nam, director of Sivilai Asia and founder of Bar Menaka in Phnom Penh and hot pot restaurant Angkor Meas in Siem Reap, said in a statement.

In full: https://www.forbes.com/sites/jonathanburgos/2022/12/09/tycoon-tony-fernandes-capital-a-forms-airasia-cambodia-as-budget-carrier-seeks-new-growth-markets/

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