AirAsia Group expects non-airline biz to contribute 60% to revenue

AirAsia Group Bhd expects its non-airline business to contribute 60% to its revenue from about 20% currently in the next five years, said group chief executive officer Tan Sri Tony Fernandes.

KUALA LUMPUR: AirAsia Group Bhd expects its non-airline business to contribute 60% to its revenue from about 20% currently in the next five years, said group chief executive officer Tan Sri Tony Fernandes.

The low-cost carrier is diversifying its business, venturing into the food and beverage industry with the recent opening of its restaurant, Santan, followed by its entrance in the music industry with the launch of its record label, RedRecords, on Friday.