Aimia to Exchange Minority Position in BigLife for Stock in AirAsia

AirAsia 6828

EconomyBookings 600x90

(24 Mar 2021)
AirAsia Group Berhad has signed a memorandum of
understanding with Aimia Holdings UK II Limited for the proposed
acquisition by AirAsia of the remaining 1,665,000 ordinary shares
in BigLife Sdn Bhd which are not already held by the group.

The sale, representing 20% equity interest in
BigLife to AirAsia Digital Sdn Bhd (AirAsia Digital), a wholly
owned subsidiary of AirAsia, will be satisfied via the issuance of
85.86 million shares or an additional 2.2% stake in AirAsia,
taking Aimia’s ownership to an approximate 3.1% equity stake in
AirAsia upon completion of the transaction from the current 0.93%
following Aimia’s participation in the second tranche of AirAsia’s
private placement recently.

The transaction is expected to
be completed before the end of May 2021.


AirAsia Airbus A320 reg: HS-ABT with King Power Duty Free livery. Picture by Steven Howard of TravelNewsAsia.com Click to enlarge.

Tony Fernandes, CEO of AirAsia Group, said, “Data
and loyalty are two key ingredients for success in this digital
era. We value the partnership with Aimia and this is a logical
transaction that will deliver numerous benefits to both parties.
As a reputable global institutional investor that has recently
come on board through our private share placement, we are thrilled
with Aimia’s decision to strengthen their position in AirAsia,
giving us further confidence in our turnaround strategy
post-pandemic, continuing with our digital pivot and solidifying
our data-driven businesses.

“BigLife, that started out as a standard airline
rewards programme has now expanded to offer a much broader digital
currency for consumers to earn and redeem BIG Points across a
strong ecosystem of synergistic travel and lifestyle products,
beyond the airasia super app platform. BigLife’s BIG Rewards is
already one of ASEAN’s largest lifestyle rewards platforms with
over 25 million members. As we continue to diversify and offer an
even larger range of products and services leveraging our travel
and lifestyle ecosystem via the airasia super app, BigLife is on
track to become the most beneficial loyalty currency in the
region.

“With full ownership of BigLife, we will have more
flexibility to drive innovation and growth to become ASEAN’s
number one redemption platform, including our points exchange
programme – BIG Xchange, that allows members to convert banking
and other loyalty points immediately as a universal exchange hub
for two way conversion between loyalty points.”

Aimia Inc. is a holding company with a
market cap of C$431m with a focus on long-term investments in
public and private companies, on a global basis, through
controlling or minority stakes. The company operates an investment
advisory business through its wholly-owned subsidiary Mittleman
Investment Management, LLC, and owns a diversified portfolio of
investments including a 48.9% equity stake in PLM
Premier, S.A.P.I. de C.V. (PLM), owner and operator of Club
Premier, the coalition loyalty program in Mexico that operates the Aeromexico Frequent Flyer programme, a 48.9% equity stake in
Kognitiv, a B2B technology growth company enabling collaborative
commerce, a 20.0% equity stake in BigLife, a
10.85% stake in Clear Media Limited (100.HK) alongside Ever
Harmonic Global Limited which comprises a consortium of investors
such as Antfin Hong Kong (controlled by Ant Financial), JCDecaux,
China Wealth Growth Fund III and Han Zi Jing the CEO of Clear
Media. Clear Media Limited is one of the largest outdoor
advertising firms in China. Aimia also holds minority stakes in a
portfolio of public company securities.

Aimia’s CEO, Phil Mittleman, said, “We are
excited for this new chapter in our partnership with AirAsia, a
leading low-cost carrier across Southeast Asia and owner of a
portfolio of valuable digital assets. By exchanging our minority
position in BigLife for publicly traded stock in AirAsia, we will
participate in what we believe will be significant upside in
AirAsia’s equity, with the added benefit of liquidity. We fully
support the airline’s recent efforts to strengthen its financial
position and pursue its digital transformation, and we believe
that AirAsia will emerge from the pandemic as a stronger airline,
uniquely positioned to capitalize on the sizable pent-up demand
that we believe exists for low-cost air travel across Southeast
Asia and beyond.”

See latest

Travel Industry News
,
Video
Interviews
,
Podcasts
and other
news regarding:

COVID19
,

AirAsia
,

BigLife
,

FFP
,

Loyalty
.


Headlines:


Vietnam Airlines to Trial IATA Travel Pass 
Air New Zealand Awarded More Int. Cargo Flights Under MIAC Scheme 
Asia Pacific Airlines Carried Just 1.1 Million Int. Passengers in April 
Korean Air Receives More Approvals for Asiana Acquisition 
Ascott Partners International SOS to Offer Telehealth and Travel Security Advice 
COVID19 Impact on South Korea’s Travel and Tourism Sector 
Bangkok Airways Extends Temporary Closure of Ticketing Offices 
South Africa vs France to Kick Off Women’s Rugby World Cup 2021 
Marriott Signs Ritz-Carlton Hotel in Ningbo, China 
Airbnb Upgrades Service for Hosts and Guests 
Plaza Premium Partners Menzies Aviation 
Qatar Airways to Resume Atlanta Flights on 1 June 
Boeing Signs New STS Contract for C-17 Training at Farnborough 
United Airlines Appoints Toby Enqvist as Executive Vice President 
Air Canada Adds Rocky Mountaineer to Aeroplan 
British & Irish Lions Name Performance Staff for Tour to South Africa 
Times Square, New York Home to World’s Third M Social Hotel 
IATA Warns of Potential Airport Chaos 
Qatar Airways to Resume Flights to Malaga, Spain on 2 July 
Skytrax Certifies Korean Air as 5-Star COVID-Safe Airline 
Airbus Unveils Plans to Increase Aircraft Production Rates 
Air Astana to Resume Flights Between Atyrau and Amsterdam 
IATA Forecasts Strong Rebound But Not Full Recovery 
World Tourism Organization Opens Regional Office in Riyadh, Saudi Arabia 
Escape! Banyan Tree to Open ‘No Walls, No Doors’ Resort in Bali, Indonesia 
Marriott Opens First Luxury Collection Hotel in South Korea 
Red Arrows and Canadian Snowbirds to Support Armchair Airshow on 29 May 
ATPCO Appoints Ellen Lee as CCO and Maya Bordeaux as CPCO 
Air Astana to Launch Flights to Podgorica, Montenegro 
American Airlines Appoints Cole Brown as Chief People Officer 
Embraer’s Aftermarket Solution Converts ERJ145s into Semi-Private Aircraft 
Spanish Air Force Takes Delivery of Airbus’ 100th A400M 
St. Regis Hotel Opens on Dubai’s Palm Jumeirah 
Changi Airport in Singapore Implements New Measures to Combat COVID19 
Singapore Airlines Group Commits to Net Zero Carbon Emissions by 2050 
Sheraton Rebrands Hotel in Istanbul, Turkey 
Executive Appointments at Saab 
How Travellers Evaluate Risk and Comply with COVID19 Rules 
airBaltic Rehiring Cabin Crew 
Airbus Publishes First Detailed Images from Pléiades Neo 3 Satellite 
Minor Hotels to Rebrand Historic Hotel in Amsterdam, Holland 
American Airlines Launches New Airport Service: Five Star Essentials 
Rosewood Signs Fifth Hotel in Mexico 
Akbar Al Baker Appointed Chairman of oneworld 
Lucas Leonardi Varin Joins Anantara Resort in Thailand as Executive Chef 
Delta Appoints Dan Janki as EVP and CFO 
Embraer Delivers 600th Phenom 300 Series Business Jet 
Marc Bromley Returns to Four Seasons Hotel Washington, DC as SGM 
Etihad Airways and Saudia Expand Partnership 
United Airlines to Increase Flights to Europe; Applauds EU Council’s Updates 
France Orders Two More Airbus H160s for Navy 
Cathay Pacific Commits to Net-Zero Carbon Emissions by 2050 
Shandong Airlines Implements Sabre’s AirVision Fares and Contract Manager 
Mandarin Oriental Appoints Matthew Bishop as Chief Financial Officer 
British Airways Adds EnergyPods to First Lounge at London Heathrow 
Four Seasons Hotel Doha Appoints Maria Sabella as Director of Marketing 
FCM Appoints Henry Jones as Head of Marketing for Asia 
Franck Rodriguez Returns to Centara as GM of Group’s First Hotel in Vietnam 
Jeanette Wong to Join Singapore Airlines’ Board as Independent Director 
Singapore Airlines to Raise SG$ 6.2 Billion via MCBs 
Hyatt Signs First Alila Hotel in Shanghai, China 
Capital One Partners Plaza Premium for Lounge at DFW 
More Countries Lift Restrictions for Vaccinated Travellers 
Accor Becomes Official Hotel Partner of NRL 
Edmonton Int. Airport and Air Canada Working Together to Reduce Carbon Emissions 
Notice of Race: NZ Millennium Cup 2022 to Take Place in February 
16,500 Fans to Watch British & Irish Lions Play Japan at Murrayfield in June 
Fusion Hotel Group Commits to Using Only Cage-Free Eggs 
Cross and Italmar (Thailand) Lay Foundation Stone of New Hotel in Bangkok 
Vietjet to Increase Revenue and Improve Service with Upgraded Website 
Airbus Corporate Jets Receives ACJ319neo Order 
Dusit Thani Reports Q1 2021 Results 
Finnair to Install HEPA Filters on ATR Fleet 
Bangkok Airways Reports Net Loss of 756.5 Million Baht in Q1 2021 
First Section of ACJ220 Arrives in Mirabel, Canada 
Dates Set for Rugby World Cup Sevens 2022; Route to Qualification Changes 
Air Travel Bubble Between Hong Kong and Singapore Bursts Again 
Minor Signs First NH Hotel in Middle East 
British Airways Trials 25-Second Digital COVID19 Test 
Avani Hotel to Open in Seminyak, Bali Next Month 
United Airlines Adding Over 400 Daily Flights to July Schedule 
3,500-Room Resorts World Las Vegas to Open 24 June 
Four Seasons Unveils New Private Jet Itinerary for 2022 
New Zealand Opens to Yachts from Australia 
Whitbread to Open 2,142 Hotel Rooms in UK by End of August 
Bangkok Airways Resumes Flights from BKK to CNX and HKT 
Rebuilding Hospitality – Amadeus Publishes Results of Global Hotel Survey 
Hong Kong Int. Airport Reports April 2021 Passenger and Cargo Traffic 
Etihad Launches Verified to Fly 
First Boeing-Saab T-7A Red Hawk Joined in Record Time 
Bombardier’s New Apprenticeship Program at London Biggin Hill 
Air North, Yukon’s Airline Appoints APG as GSA in 12 Countries 
Revised Fixture List and Venues for Castle Lager Lions Series 
Asia Digital Engineering Receives Base Maintenance Approval from CAAM 
Qantas Delays Resumption of International Flights Until Late December 
Promoting Hua Hin Airport and Prachuap Khiri Khan to Regional Markets – Interview 
NDC – Exclusive Interview with Kathy Morgan of Sabre Travel Solutions 
Elephant Conservation, Jungle Bubbles and Tourism in Thailand – Interview 
IATA Travel Pass – Interview with Vinoop Goel, Director Airports – APAC 
How’s Business in Pattaya, Thailand? Interview with MD of Tiffany’s Show 
Will British & Irish Lions’ Tour of South Africa Go Ahead? 
ASEAN Tourism Forum 2021 Postponed Until January 2022 
HD Videos and Interviews 
Podcasts from HD Video Interviews 
RSS News Feed and Ticker 
Travel Trade Shows in 2020 and 2021 
High-Res Picture Galleries 
Travel News Asia – Latest Travel Industry News 

468*60
Source link

Leave a Reply

Your email address will not be published. Required fields are marked *