AirAsia co-founder Tony Fernandes is reportedly preparing to launch a new airline, banking on continued volatility in global oil prices, according to Bloomberg News.
The report on Thursday stated that the new carrier could be announced within the next few months, with aircraft being repositioned as part of preparations for the venture.
AirAsia, Malaysia’s leading budget airline, did not immediately respond to media requests for comment, while Fernandes also did not reply to enquiries sent via LinkedIn.
The development comes as AirAsia explores a broader financial restructuring plan, including the potential issuance of up to US$600 million in bonds and ongoing discussions with Malaysian banks for refinancing to reduce borrowing costs.
In a separate development, the airline recently confirmed a major aircraft purchase deal involving 150 Airbus A220 jets, with options for an additional 150 larger variants should Airbus proceed with production plans.
AirAsia has also adjusted its flight operations recently following rising fuel costs, which were impacted by geopolitical tensions affecting global oil markets.
Fernandes previously said demand for air travel remains strong despite the challenges, expressing confidence that the airline sector will recover and strengthen once market conditions stabilise.
