Fernandes AirAsia needs MAHB s support to make Malaysia a logistics hub, The Edge Markets

Fernandes: AirAsia needs MAHB's support to make Malaysia a logistics hub. KUALA LUMPUR (Sept 7): Low cost carrier AirAsia Group Bhd's Tan Sri Tony Fernandes said the group's logistics businesses, operated via RedCargo Logistics Sdn Bhd, requires the support of Malaysia Airports Holdings Bhd in order to make the country a logistics hub.

“Logistics is going to be a big part of our business,” Fernandes said in a Twitter post today. “Red Cargo and Red Logistics needs the support of Malaysia Airports to make Malaysia a logistics hub,” he added.

Fernandes was referring to AirAsia’s two logistics firms, RedCargo Logistics Sdn Bhd and RedBox Logistics Sdn Bhd, which were incorporated this year. In a March 13 filing with Bursa Malaysia, AirAsia announced RedCargo will provide air cargo general sales services for the AirAsia and AirAsia X Group of Airlines. As for RedBox, AirAsia said it will offer technology-based solutions to facilitate door-to-door logistics movement of goods for domestic and international e-commerce businesses, as well as for bricks and mortar shops. Since the opening bell, AirAsia shares gained 9 sen or 2.88% and paused at RM3.22 today, for a market capitalisation of RM10.76 billion.