By Poovenraj Kanagaraj
Independent brand valuation consultancy, Brand Finance says AirAsia Group is well-positioned to survive the Covid-19 crisis.
In its annual report on the most valuable and strongest airline brands, Brand Finance “Airline 50” for 2020, the Group came out strong among other top airline brands based on its cash position, brand strength and brand value.
AirAsia was also the only low cost carrier from ASEAN featured on the list. The airline recently registered 15.5 percent year-on-year growth in brand value, recording the highest in Asia and second highest among airlines globally.
The airline was also rated as one of the only four airline brands in the to have an AAA+ rating.
“The current Covid-19 crisis presents a dangerous threat to airlines, and will not be easy to manage given that airlines will struggle to recapture lost demand and could lose up to 20% of overall brand value,” said Samir Dixit, managing director, Brand Finance Asia Pacific.
He added, “Based on our criteria, we found AirAsia to be one of the 30 global airline brands well poised to survive the Covid-19 crisis.”
Bo Lingam, president (airlines) of the Group said value, innovation and choice are three cornerstones to the brand and the achievement of being in the top 25 is a testament to airline’s dedication.
AirAsia last week resumed scheduled domestic flights in Malaysia and Thailand with strict health controls and social distancing protocol in place.
Resumption of services will follow in the Philippines, Indonesia, India and Japan soon