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KUALA LUMPUR (September 11): Never waste a crisis. This is the constant reminder from AirAsia Group Bhd founder, Tan Sri Tony Fernandes, to the staff of the low-cost airline, as the Covid-19 pandemic forced the group to harness the power of its media ecosystem as the industry of the aviation faces the impact of the pandemic.
In a statement today, AirAsia announced the consolidation of its media solutions, which encompass ad technology, content and media-related offerings, under AirAsia Media Group.
“Tony, our founder, always reminds us that we should never waste a crisis,” AirAsia Media Group CEO Sumit Ramchandani said in the statement.
In the statement, AirAsia said AirAsia Media Group will play an integral role in the airline’s fully integrated travel and lifestyle ecosystem building efforts.
“By leveraging AirAsia’s wide range of omnichannel media assets and its rich proprietary database, the media group is able to engage consumers at every touchpoint and provide brand-targeted media solutions, through its own self-service or managed service advertising technology platform. ” AirAsia said.
In today’s Bursa Malaysia 12:30 pm break, AirAsia’s share price rose 0.5 sen or 0.79% to 63.5 sen, giving the company a market capitalization of RM2.12 billion.
The stock saw 6.51 million shares traded.
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