AirAsia (AK, Kuala Lumpur International) has increased its shareholding in Think BIG, the firm that manages and owns the Malaysian LCC's BIG loyalty programme.
In a filing with the Malaysia Bursa, AirAsia says it has signed a share sale agreement to acquire a 25.8% stake in Think BIG from Tune Money International Sdn Bhd for MYR101.5 million (USD24.77 million) in cash. Once the transaction is completed, AirAsia will control 71.9% of Think BIG, up from its current 46.1%.
"Acquiring the remaining 25.8% stake in Think BIG Digital will confer onto AirAsia additional benefits that can only be realised through [a] greater controlling stake of Think BIG Digital," the carrier said. "Subsequent to the Acquisition, Think BIG would be a subsidiary to AirAsia and AirAsia would have greater strategic control over [the] day-to-day operations at Think BIG to drive the business forward. This would allow AirAsia to extract greater value from the AirAsia BIG loyalty programme managed by Think BIG Digital."
