AirAsia making Plans for Flying Taxi business next year
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Malaysian budget airline AirAsia Group on Saturday stated that plans are in the works to launch a flying-taxi business next year.
Air Asia CEO Tony Fernandes on Saturday said that the company is working on the project, and it would take about a year and a half to launch it. He made these statements at an online discussion as part of the Youth Economic Forum.
Fernandes further said that the flying taxis will be powered by a quadcopter, and it will have as many as four seats.
With the COVID-19 pandemic proving to be detrimental to the aviation business, Air Asia has now branched into the digital space, launching a “super app” that offers services from travel and shopping to logistics and financial services, thus diversifying its revenue stream.
Meanwhile, Tata Sons will enhance its shareholding in a low-cost carrier — AirAsia India — by buying a 32.67 percent equity stake of its JV partner AirAsia Group Berhad.
The budget airline is a JV in which Tata Sons owns 51 percent stake, while 49 percent is held with AAIL.
After the transaction, Tata’s shareholding will go up to 83.67 percent, while that of AAIL will come down to 16.33 percent.
In a regulatory filing made to Bursa Malaysia, AirAsia Group Berhad said the transaction via a share purchase agreement with Tata Sons was agreed by AAIL’s Board.
Headquartered in Bengaluru, AAI flies to 19 domestic destinations across India with 33 Airbus A320 aircraft.
Questions & Answers
Q.When does AirAsia plan to launch its flying taxi business?
When does AirAsia plan to launch its flying taxi business?
AirAsia Group stated on Saturday that plans are being made to launch a flying-taxi business next year. CEO Tony Fernandes said it would take about a year and a half to launch the project from now.
Q.What type of vehicles will AirAsia's flying taxi service use?
What type of vehicles will AirAsia's flying taxi service use?
The flying taxis will be powered by a quadcopter, according to AirAsia CEO Tony Fernandes. Each taxi will be designed to accommodate as many as four seats, allowing for small group travel.
Q.Why is AirAsia diversifying its business activities into new areas?
Why is AirAsia diversifying its business activities into new areas?
The COVID-19 pandemic has significantly impacted the aviation business, proving detrimental to traditional revenue streams. AirAsia is diversifying to mitigate this impact and launch new digital services to broaden its income.
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