AirAsia wishes to announce that it has on 21 September 2017 incorporated a wholly-owned subsidiary company known as Ground Team Red Holdings Sdn. Bhd. (Company No. 1247875-K) (“GTRH”), a private limited company incorporated in Malaysia under the Companies Act, 2016 with its registered office situated at B-13-15, Level 13, Menara Prima Tower B, Jalan PJU 1/39, Dataran Prima, 47301 Petaling Jaya, Selangor Darul Ehsan.

The incorporation of GTRH is intended for investment holding activities of AirAsia's airport services businesses.

The initial issued and paid-up share capital of GTRH is RM2.00 represented by 2 ordinary shares. The Directors of GTRH presently are Ms. Pattra Boosarawongse and Mr. Anajuk Chareonwongsak.

The incorporation of GTRH is not expected to have any immediate effect on the issued and paid-up share capital or substantial shareholders’ shareholdings of AirAsia.

This announcement is dated 25 September 2017.