When you think AirAsia, what do you think of? Airlines, obviously. And yet, a sizable chunk of the Malaysia-headquartered budget carrier AirAsia Group’s revenue—23%—comes from ancillary and non-airline businesses. In fact, the revenue from its non-airline businesses is up 189% year-on-year (YoY), contributing RM697 million (US$161.7 million) to AirAsia’s annual revenue of RM12.4 billion (US$2.9…

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Ka Kay Lum

Based in Kuala Lumpur, Ka Kay covers investment activities, aka following the money, across Southeast Asia and in-depth stories on the often-overlooked Malaysian startup ecosystem. She was previously a regional writer for Nikkei-owned DealStreetAsia.

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