AirAsia (AK, Kuala Lumpur International) has announced it has incorporated a wholly-owned subsidiary company in Singapore known as AirAsia Pte. Ltd.
The pan-Asian LCC said in a filing to the Mallaysia Bursa that the unit's total share capital consists of 1 million ordinary shares valued at SGD1 (USD0.73) each.
The Directors of the company are Tony Fernandes (AirAsia Group founder), Datuk Kamarudin Bin Meranun (the Chairman of AirAsia and CEO of the Tune Group), and Logan Velaitham (CEO of AirAsia Singapore).
The principal activity of the Singaporean firm will be "airline operation services" although it will also act as a management services company dealing with the relevant authorities and service providers in Singapore.
