AIRASIA GROUP Photo Caption: Tony Fernandes (seated, right) with Jane Sun, CEO of Trip.com Group during the partnership signing ceremony in Shanghai. Also present are the senior managements of both entities, including Chairman of AirAsia Aviation Group Limited (AAAGL), Tan Sri Jamaludin Ibrahim, Chief Commercial Officer of AAAGL, Karen Chan, CEO of BigPay, Zubin Rada Krishnan and CEO of AirAsia MOVE, Nadia Omer
SHANGHAI, 29 March 2024 - Capital A announced today it has signed a comprehensive partnership with China's leading global travel service provider Trip.com Group, aimed at enhancing travel offerings and market reach across Asia. The strategic collaboration encompasses multiple lines of businesses, including AirAsia, and AirAsia MOVE for key areas of cooperation on innovative solutions spanning flights to accommodations, attractions and tickets, car-hailing, and payments.
Building upon a successful strategic partnership, first announced in 2020, this extension underscores the commitment to expanding the ongoing relationship between the two entities. Together, they will continue to broaden AirAsia and AirAsia MOVE's reach and portfolio of offerings leveraging Trip.com Group's innovative solutions, such as merchandising and Virtual Interline products. Additionally, the collaboration will focus on developing technological solutions to increase revenue and optimise cost efficiencies.
Furthermore, the two sides will strengthen information sharing on customer trends and market intelligence, while committing to improving customer service through collaborations between AirAsia and Trip.com Group's customer service teams. Meanwhile, TripLink - Trip.com Group's financial technology arm - will provide AirAsia Aviation Group with payment solutions. These synergies will create further value for both entities, while enabling them to drive innovation and provide better value to their customers.
Ms Jane Sun, Chief Executive Officer, Trip.com Group, said: "This expansion of the strategic partnership between both companies is an affirmation of the positive outcomes we have seen since we signed our initial agreement in 2020. Trip.com Group has continually invested in technology to improve our processes and customer experiences, and we are excited to leverage the power of technology as we continue working with Capital A to give our users the perfect trip every time they make a booking with us."
CEO of Capital A Tony Fernandes said, "We are thrilled about the participation of Capital A's three entities - AirAsia, AirAsia MOVE, and BigPay - in this partnership. Our collaboration extends beyond promoting AirAsia flights and ancillary on Trip.com Group's platforms. AirAsia's inventory and growth plans are focused on China and then getting Trip.com Group's customer base into Asean, while AirAsia MOVE will collaborate on Trip.com Group hotel inventory and offer MOVE activities, tickets, and ride collaborations for Trip.com Group users. Additionally, we anticipate exploring future collaboration opportunities on payments for BigPay. Together, we will leverage each other's extensive network and resources to offer enhanced travel experiences to our customers, delivering mutual growth and success for our two organisations."
The latest partnership comes as global flights show healthy growth so far this year, with bookings on Trip.com Group's platforms increasing by 82% compared to the same period last year. In 2023, the Group's transportation business saw revenue increase by 123% year-on-year, and in the same period, Capital A's revenue increased by 25% compared with 2019 levels despite operating with just 80% of 2019's aircraft numbers on the back of a strong 88% load factor.
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About Capital A
Capital A (formerly known as AirAsia Group) is an investment holding company with a portfolio of synergistic aviation and travel businesses that leverage data and technology, including the world's leading low-cost carrier AirAsia, Capital A Aviation Services, AirAsia MOVE (formerly airasia Superapp) and fintech BigPay, as well as logistics venture Teleport. Capital A's vision is to create and deliver products and services that focus on offering the best value at the lowest cost, underpinned by robust data accumulated over 20 years in operation and one of Asia's leading brands that remains committed to serving the underserved in Asean and beyond.
About Trip.com Group
Trip.com Group is a leading global travel service provider made up of Trip.com, Ctrip, Skyscanner, Qunar, and TrainPal. Across its platforms, Trip.com Group helps travelers around the world make informed and cost-effective bookings for travel products and services and enables partners to connect their offerings with users through the aggregation of comprehensive travel-related content and resources, and an advanced transaction platform consisting of apps, websites, and 24/7 customer support centers. Founded in 1999 and listed on NASDAQ in 2003 and HKEX in 2021, Trip.com Group has become one of the most well-known travel groups in the world, with the mission "to pursue the perfect trip for a better world." Find out more about Trip.com Group here: group.trip.com.
Media Inquiries
Capital A
Maryanna Kim
maryannakim@airasia.com
Citigate Dewe Rogerson
Sarah Tan / Jeanne Mah / Goh Wen Jin / Christel Yang
Email: trip.com_sg@citigatedewerogerson.com
Phone: +65 6589 2378 / 6589 2362
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Capital A Berhad published this content on 29 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 March 2024 05:13:00 UTC.
