BangkokPost-July 8

AirAsia is aiming to use its strong network in Thailand to speed up the growth of Gojek in the country and put the loss-ridden service on the path towards profit within one year via upcountry expansion, starting with three key provinces in the fourth quarter. The group’s plan is to boost revenue from digital services to 50% within five years, which will become easier after it agreed to acquire the unit from Indonesia’s delivery giant via a share deal worth US$50 million (1.61 billion baht). Malaysia-based AirAsia Group chief executive Tony Fernandes said the negotiations between AirAsia and Gojek began two months ago and wrapped up recently. The deal will enable Gojek to transfer its resources and services in Thailand to AirAsia Digital — a venture arm of AirAsia Group — in early August and rebrand from Gojek to AirAsia.

He added that when the group was approached by Gojek to take over in Thailand, it saw the move as the right opportunity to leverage know-how from Gojek and integrate it with the much stronger brand of AirAsia and expand into food deliveries and fintech services.

Read more at: https://www.bangkokpost.com/business/2145183/airasia-buys-gojeks-thai-business