AirAsia Berhad and AirAsia X Berhad agree profit-sharing deal

The board of directors of AirAsia Group Berhad has said that AirAsia Berhad, a wholly-owned subsidiary of the company, has entered into a profit–sharing agreement with AirAsia X Berhad. The deal is in connection with the transfer two of its existing slots which are in the equivalent of 14 times weekly of its Kuala Lumpur – Singapore route. Pursuant to the agreement, AAX will share 50% of the net operating profit of the route with AAB on a monthly basis throughout the term of the agreement. The Transaction will provide an opportunity for AAB to heighten the fly-thru market which