Posted on: 18 February 2015 by Ross McSweeny
tExpedia has spent $86.3 million on increasing its stake in the joint venture it began with AirAsia Berhad in 2011, AirAsia-Expedia (AAE), from 50% to 75%.t
tFollowing the completion of the financial transaction, which is due during the first half of this year, Expedia will begin including the AirAsia-Expedia joint venture’s financial results in its consolidated financial statements.t
t“Asia continues to be a fast-paced, growing market, and partnering with a powerful brand like AirAsia has been instrumental in driving the expansion of our business in the region,” said Dara Khosrowshahi, president and CEO of Expedia, Inc. “We continue to value and look forward to a great ongoing relationship with them as we bring our world-class technology and supply to travellers across Asia.”t
t“Our partnership with Expedia has been and continues to be a terrific success for both companies,” added Group CEO of AirAsia, Tony Fernandes. “We are excited to continue the close relationship between Expedia and AirAsia to deliver unrivalled travel experiences for Asian consumers.”t
tAAE Travel offers customers a complete range of great value flights, hotels, and holiday packages.