<article>AirAsia co-founder and group CEO Tony Fernandes has said he is not keen on taking over loss-making Malaysia Airlines Bhd amid efforts to salvage the national carrier.
&#8220;There are fantastic people in Malaysia Airlines, it is a good brand&#8230; I think it could be turned around. I think it is not a wise idea to close it down, there should be good efforts to revive it.</article>

AirAsia co-founder and group CEO Tony Fernandes has said he is not keen on taking over loss-making Malaysia Airlines Bhd amid efforts to salvage the national carrier.
&#8220;There are fantastic people in Malaysia Airlines, it is a good brand&#8230; I think it could be turned around. I think it is not a wise idea to close it down, there should be good efforts to revive it.
&#8220;I already have a lot on my plate&#8230; my plate is full now&#8230; we want to expand our digital business,&#8221; said Fernandes in an interview with Channel NewsAsia.
The development was first reported by <a href="https://www.theedgemarkets.com/article/airasia-not-keen-malaysia-airlines">The Edge Markets</a>.
Last week, a local lawmaker had said <a href="https://www.malaysiakini.com/news/468996">Fernandes should be given a shot to revive Malaysia Airlines</a> and there has been speculation on whether the government will revisit the proposal on share swap between the controlling shareholders of both airlines.
In August 2011, both AirAsia and Malaysia Airlines had agreed to a share swap deal that would have seen Malaysia&#8217;s sovereign wealth fund Khazanah Nasional Bhd transfer its 20.5 per cent in Malaysia Airlines to Tune Air, the parent company of AirAsia, in exchange for 10 per cent of the budget airline.
However, the share swap deal was <a href="https://www.bbc.com/news/business-17934467">called off in 2012</a> due to trade union concerns over restructuring and job cuts in the wake of the deal.
Meanwhile, in a series of tweets, Fernandes reiterated that the budget airlines has been actively expanding its digital businesses.
&#8220;Also, AirAsia.com, massive platform with immense value. 65 million visitors per month, RM16 billion of sales annually on just flight tickets, positive cash flow that is far beyond platforms like Traveloka. Yet we are valued at half their valuation. How? Not for long though,&#8221; he tweeted.
He added that the firm&#8217;s logistics arm RedCargo is a huge asset that is underutilised.
&#8220;We will also help the rise of small/medium entrepreneurs in Asean especially in social eCommerce who struggle with logistics. RedCargo will help the people grow their business with last mile delivery. Huge upside here that will change ancillary dramatically,&#8221; he said.
Earlier this month, AirAsia launched a <a href="https://www.dealstreetasia.com/stories/airasia-venture-fund-124214/">$60 million global venture fund in partnership with Silicon Valley venture capital firm 500 Startups</a>. Called RedBeat Capital, the fund will target post-seed stage startups seeking to enter or expand their presence in Southeast Asia. Its deputy group CEO Aireen Omar had told DEALSTREETASIA that AirAsia will anchor the fund, with participation from<a href="https://www.dealstreetasia.com/stories/airasia-digital-arm-cvc-fund-119878/"> external investors</a>. The fund will focus on investments in the travel and lifestyle sectors.
Also Read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/airasia-asset-sale-tony-fernandes-104829/">AirAsia has raked in $1.5b from sale of non-core assets, says Tony Fernandes</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/airasia-venture-fund-124214/">AirAsia launches $60m global venture fund, partners 500 Startups</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/foreign-suitors-malaysia-airlines-127265/">Foreign companies are eyeing stake in Malaysia Airlines, says Daim</a>

Tony Fernandes says AirAsia not keen on buying Malaysia Airlines

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