AirAsia (AK, Kuala Lumpur International) has announced that it is to take a 50% stake in start-up travel planning site Touristly in a deal worth MYR11.5 million (USD2.6 million). Of that, MYR5 million (USD1.1 million) will be in the form of a convertible loan to the start-up for working capital and development.

Under the deal, Touristly will have access to AirAsia's 60 million passengers through advertising space in its printed material, online, and inside aircraft cabins. For its part, AirAsia will be able to offer passengers the opportunity to book on-the-ground leisure and recreational activities alongside their flight bookings, presumably in a bid to boost ancillary revenue.

Touristly CEO Aaron Sarma is keen to tap into AirAsia's experience in the region. "The insight we can gain from AirAsia's 15 years in the travel industry will help us better understand the Asia Pacific market and quickly adapt to deliver real value to our customers," he said.

Both companies are based in Malaysia.