AirAsia eyes full ownership of BigLife

Currently, AirAsia’s wholly-owned subsidiary AirAsia Digital Sdn Bhd owns a 80% equity interest in BigLife. To fund the acquisition, AirAsia said it will issue a total of 85.86 million new ordinary shares at RM1.20 per unit.

PETALING JAYA: AirAsia Group Bhd plans to acquire the remaining 20% stake in BigLife Sdn Bhd, the operator of AirAsia’s customer loyalty programme BIG Rewards, for RM103.04mil via issuance of new shares.

The low-cost airline operator told Bursa Malaysia that it has signed a memorandum of understanding with Aimia Holdings UK II Ltd to acquire the 20% stake. Aimia Holdings is wholly-owned by Aimia Inc, which is listed on the Toronto Stock Exchange.