Airasia To Acquire Gojek's Operations In Thailand

KUALA LUMPUR, July 7 (Bernama) -- AirAsia Digital, the digital arm of Airasia Group Bhd and Indonesian ride-hailing and payment firm Gojek, have revealed a partnership whereby AirAsia Digital will acquire Gojek’s operations in Thailand. This win-win deal is expected to rev up expansion of the Airasia Super App in Asean, while enabling Gojek to increase investments in its Vietnam and Singapore operations, the budget airline said in a statement today. In return, Gojek will receive shareholding in the AirAsia Super App whose market value is around US$1 billion (US$1=RM4.16). According to the statement, the deal provides both parties with a strong foundation to explore additional opportunities for collaboration and synergies in one of the fastest-growing regions in the world. As part of its commitment to Thailand, the AirAsia Super App aims to continue to leverage the existing ecosystem services for riders, merchants and customers, while adding new offerings such as groceries and beauty items. The carrier also said that it will seek regional expansion into new markets like Chiang Mai and Phuket in the near future. The Gojek application (app) will continue to operate for existing users in Bangkok until July 31, 2021 to ensure stability for Gojek drivers and merchants who will be invited to onboard the AirAsia Super App in the coming weeks. “AirAsia will work with the existing Gojek team in Thailand, who will operate the Gojek business during the transition period before moving over to the AirAsia Super App, bringing local market expertise and a deep understanding of Thai user needs to the business,” said AirAsia group chief executive officer (CEO) Tan Sri Tony Fernandes. The CEO also said that by taking on Gojek’s well-established Thai business, the airline would be able to turbocharge its ambitions to become a leading ASEAN challenger super app. “We have a complete digital economy ecosystem including over 15 different non-airline products and lifestyle services on our digital e-commerce platform in Malaysia. “Now it’s time to take it to the next level,” he said. Fernandes explained that in response to overwhelming regional demand, the company is setting its sights on bringing the Super App offerings to all key markets, following the successful rollout in Thailand. “All of our digital businesses are going from strength to strength and through this alliance, our goal of becoming the Asean Super App of choice is fast becoming a reality,” he said. Meanwhile, Gojek CEO Kevin Aluwi said the deal is a testament to the accomplishments of Gojek's team in Thailand. “We are proud and grateful for everything Gojek Thailand has achieved, as well as for our loyal Thai consumers and driver and merchant partners, who have always been at the heart of what we do. “AirAsia Digital and the Airasia Super App will become a highly valued partner for us as we share the same goal to provide users with better services while enhancing the livelihoods of drivers and merchants,” he said. Aluwi also said that the deal is expected to pivot the company’s focus in international markets towards Vietnam and Singapore, markets that are providing them with the best return on investment and strategic growth opportunities. At the time of writing, AirAsia shares fell 2.70 per cent to 90 sen, with 20.02 million shares transacted. -- BERNAMA