KUALA LUMPUR: AirAsia Bhd, which recently finalised its strategic five-year review on all its business, wants to develop its units in the Philippines and Japan while it views India as an exciting market.
The low-cost carrier's (LCC) group CEO Tan Sri Tony Fernandes said on Friday that with Malaysia having become a "cash machine", the management would turn its focus to other core markets in Thailand and Indonesia.
He said the group foresees these entities generating similar profits to Malaysia in the future. "The other focus is to develop our new entities in the Philippines and Japan whereby in terms of LCC penetration, it is still at its infancy and there is utmost growth potential.
"We have put in a strong management team who shares our vision and strategy which will enable them to achieve similar dominance like Malaysia, Thailand and Indonesia," he said.
Fernandes added that while other Asean and Asian countries like Vietnam, Cambodia, Laos, Brunei, Myanmar, and South Korea seemed attractive, the management would focus on AirAsia Group's existing operations that offer bigger domestic alternatives and larger populations.
"In terms of non-Asean countries, India is an exciting market and I have been overwhelmed with the developments of the country recently in terms of promoting air travel.
"We will continue to explore opportunities there but I believe this market offers the most growth potential in terms of travel," he said.
The group is set to announce its full year results in February, and Fernandes said the fourth quarter was very strong in terms of performance.
"I believe 2013 will be stronger in terms of our load factors and yields because we have the ability in terms scale and cost to buffer any competitive pressures.
"I am very excited for what we have strategically planned for the next five years for AirAsia Group and will continue to beat the odds every year," he added.
The low-cost carrier's (LCC) group CEO Tan Sri Tony Fernandes said on Friday that with Malaysia having become a "cash machine", the management would turn its focus to other core markets in Thailand and Indonesia.
He said the group foresees these entities generating similar profits to Malaysia in the future. "The other focus is to develop our new entities in the Philippines and Japan whereby in terms of LCC penetration, it is still at its infancy and there is utmost growth potential.
"We have put in a strong management team who shares our vision and strategy which will enable them to achieve similar dominance like Malaysia, Thailand and Indonesia," he said.
Fernandes added that while other Asean and Asian countries like Vietnam, Cambodia, Laos, Brunei, Myanmar, and South Korea seemed attractive, the management would focus on AirAsia Group's existing operations that offer bigger domestic alternatives and larger populations.
"In terms of non-Asean countries, India is an exciting market and I have been overwhelmed with the developments of the country recently in terms of promoting air travel.
"We will continue to explore opportunities there but I believe this market offers the most growth potential in terms of travel," he said.
The group is set to announce its full year results in February, and Fernandes said the fourth quarter was very strong in terms of performance.
"I believe 2013 will be stronger in terms of our load factors and yields because we have the ability in terms scale and cost to buffer any competitive pressures.
"I am very excited for what we have strategically planned for the next five years for AirAsia Group and will continue to beat the odds every year," he added.
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