KUALA LUMPUR, Malaysia – Kuala Lumpur-based AirAsia, the region’s largest low-cost carrier by aircraft, has taken an 80% stake in its in-flight beverage supplier, T&Co Coffee, for or close to 1 million ringgit (US$250,000).
The transaction comprises 814,000 ringgit in cash and 100,000 ringgit credit that T&Co shareholders can redeem as AirAsia flights.
In a filing with Bursa Malaysia, the company said the purchase will help AirAsia provide a more “lifestyle-focused offering to guests on board”.
T&Co has been supplying inflight coffee and tea solutions to AirAsia since December 2013.
