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    AC   CA0089118776

AIR CANADA

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Malaysia's AirAsia says over 20 new airlines join Super App

10/27/2021 | 11:57pm EST
FILE PHOTO: Airasia planes are seen parked at Kuala Lumpur International Airport 2

KUALA LUMPUR (Reuters) - AirAsia Group Bhd has partnered with more than 20 airlines as it builds up its Super App into an online travel agency that also sells flights by competitors, the Malaysian budget airline said on Thursday.

The airlines which joined airasia Super App as partners included Air Canada, Air France, Bamboo Airways, flydubai, KLM, Qatar Airways and Philippine Airlines.

AirAsia said the app has more than 700 airline partners and can reach over 3,000 destinations. It partnered Kiwi.com in 2019, a travel tech firm that allows users to build itineraries to combine flights and ground transportation from more than 800 carriers.

The new partnerships come as international travel gradually reopens after more than a year of slump due to the COVID-19 pandemic.

"We see a strong V-shape recovery in the coming months," airasia Super App Chief Executive Officer Amanda Woo said at a briefing.

Woo said the app aims to capture a 30% market share and become the top Southeast Asian online travel agency in five years. It competes with online travel agencies like Agoda and Traveloka.

Through the collaborations, AirAsia will offer travel deals to more destinations outside its network across Europe, Oceania, Africa, the Middle East and the Americas.

(Reporting by Liz Lee; Editing by Subhranshu Sahu)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AIR CANADA -0.12% 20.77 Delayed Quote.-8.65%
AIR FRANCE-KLM 3.35% 3.798 Real-time Quote.-28.22%
AIRASIA GROUP BERHAD -3.95% 0.85 End-of-day quote.-3.95%
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Financials
Sales 2021 6 119 M 4 802 M 4 802 M
Net income 2021 -3 391 M -2 661 M -2 661 M
Net Debt 2021 7 987 M 6 268 M 6 268 M
P/E ratio 2021 -2,14x
Yield 2021 -
Capitalization 7 442 M 5 835 M 5 841 M
EV / Sales 2021 2,52x
EV / Sales 2022 0,97x
Nbr of Employees 18 000
Free-Float 80,4%
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Number of Analysts 18
Last Close Price 20,80 CAD
Average target price 29,88 CAD
Spread / Average Target 43,7%
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Managers and Directors
Michael Stewart Rousseau President, Chief Executive Officer & Director
Amos S. Kazzaz Chief Financial Officer & Executive Vice President
Vagn Ove Sørensen Chairman
Craig Landry Executive Vice President-Operations
Michael M. Green Independent Director
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