AirAsia reportedly eyeing US$300m in funding for digital unit

AirAsia Group is reportedly planning to raise approximately US$300 million to grow AirAsia Digital, according to Bloomberg which quoted its sources. Bloomberg added that AirAsia is in discussions with potential investors for what would be the inaugural financing round for its digital unit. It is also working with at least one adviser on the impending deal and the fundraising would comprise issuance of new shares in AirAsia Digital.

That said, it has yet to confirmed whether AirAsia will go ahead with the financing round, Bloomberg said. AirAsia declined to comment on A+M's queries. AirAsia has been aggressively diversifying its business options in the recent year. It not only launched its super app covering travel, eCommerce, and fintech, but also entered the food delivery industry in Malaysia amidst the pandemic. In February, it officially expanded into Singapore's food delivery scene with airasia food and just last month, Bloomberg also reported that the company is planning to launch a flying taxi businesses "as soon as next year". CEO Tony Fernandes said during a panel at the Youth Economic Forum that it is "about a year and a half away from launching" the business.

Last month, the company introduced a real-time chat feature known as airasia chat on its super app, in an effort to turn the app into a one-stop multipurpose messaging platform for its users. Users can choose community chat rooms with topics that resonate with them and chat with other users as well.

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