The Board of AirAsia wishes to announce that AirAsia Investment Limited (“AAIL”), a wholly-owned subsidiary of AirAsia), had on 13rd November 2017 received an approval for the business license from the local government of People’s Republic of China and incorporated a wholly-owned subsidiary known as AirAsia (Guangzhou) Aviation Service Limited Company (“the Subsidiary”).

The expected issued share capital of the Subsidiary is US$1,000,000. The main objective of establishing the Subsidiary is to have an Aviation and Commercial services company in China. The incorporation of the Subsidiary is not expected to have any immediate effect on the issued and paid-up share capital or substantial shareholders’ shareholding in AirAsia.

The establishment of the Subsidiary is also not subject to the approval of shareholders of the Company and any other regulatory authorities in Malaysia.

The formalisation of the incorporation of the Subsidiary including but not limited to opening of all bank accounts and tax filing in People’s Republic of China was completed on 26 December 2017.

This announcement is dated 27th December 2017.