AirAsia to dispose 25% stakes in AAE Travel

by TMR

AirAsia Group Bhd plans to dispose 25% or its entire stakes in AAE Travel Pte Ltd, (AAE Travel) to Expedia Southeast Asia Pte Ltd and Expedia Inc for RM240 million (US$60 million) and other assets.

AirAsia noted in an exchange filing yesterday, the other assets comprised of net of the concurrent purchase of domain names and related assets from the company by Travel360 Sdn Bhd.

AAE Travel was initially a joint venture formation between AirAsia and Expedia to establish an online travel agency with three main brands namely AirAsiaGo, GoRooms and Expedia, of which the last currently holds 75% stakes in the company.