Malaysian budget carrier AirAsia Group Bhd, has consolidated all its media solutions under a new entity called AirAsia Media Group, in a bid to tap new revenue streams as the COVID-9 pandemic continues to bite.
The AirAsia Media Group will be a marketing solutions partner that integrates adtech and data with content and publishing channels, focussing on travellers and pop-culture in the Asean region, said AirAsia in a statement on Friday. “The media group will play an integral role in the airline’s fully-integrated travel and lifestyle ecosystem-building efforts.”
AirAsia Media Group will provide targeted media solutions to brands, through its proprietary self-service adtech platform or managed service.
The establishment of AirAsia Media Group is aligned with AirAsia’s digital transformation strategy and will position the media group as “the engine to power, distribute, and unify AirAsia’s advertising assets across group companies, creating a results-oriented proposition for its advertising partners, from online to in-flight, and from origin to destination,” the statement added.
The consolidation of services allows AirAsia Media Group to open more job opportunities in digital marketing and e-commerce, as well as sales teams in the Philippines, Thailand, and Indonesia.
“One of our unique strengths is our ability to connect with over 75 million users globally through 15 product lines in travel, e-commerce and lifestyle on a single data-driven platform,” AirAsia Media Group CEO Sumit Ramchandani said. “By unifying our media functions under a single group, we hope to better support marketers in achieving their goals by providing quality data and increased conversion. ”
AirAsia has been expanding its businesses beyond just selling air tickets lately amid the COVID-19 pandemic.
On Wednesday, the board of directors of AirAsia approved the establishment of Asia Digital Engineering Sdn Bhd (ADE), a wholly-owned subsidiary of AirAsia, to consolidate engineering personnel across AirAsia’s group airlines.
ADE, with the manpower of AirAsia Bhd’s Engineering Department, will operate as a centralised and independent Maintenance, Repair & Overhaul unit to service all of AirAsia’s group airlines and third-party airlines in the region, according to a regulatory filing.
In August, AirAsia announced that its travel and lifestyle e-commerce platform, AirAsia.com, has formed a strategic partnership with digital travel platform Agoda to spur travel activity in Southeast Asia and strengthen AirAsia’s super app offering.
The group reported a net loss of RM992.89 million ($238.87 million) in the April-June quarter, compared with a net profit of RM17.34 million in the same period a year ago. Revenue declined 96.9% to RM118.96 million ringgit in the June quarter this year.