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Expedia Group has taken full ownership of AAE Travel, a joint venture formed with AirAsia Group Berhad in 2011.
Expedia had held 75% equity in AAE Travel since 2015.
Expedia bought out AirAsia for $60 million net of AirAsia’s purchase of AirAsiaGo.com, a website that had been a part of AAE Travel. Expedia will continue to power AirAsiaGo.com, which sells air-hotel packages, with lodging content from Expedia.
AAE Travel operates full-service Expedia-branded sites in India, Japan, Singapore, Thailand and Malaysia. It also has hotel-only sites in Indonesia, Philippines, Hong Kong, Taiwan and South Korea.
“Acquiring full ownership of AAE Travel reflects our belief in the immense potential for us in the over $485 billion Asian travel market,” Expedia Group CEO Mark Okerstrom said in a statement. “This transaction unlocks better integration of our Brand Expedia Asia business into our core global travel platform, giving us even greater confidence in our ability to harness the huge growth potential that Asia represents.”
Source: travelweekly.com