AirAsia Berhad (“AirAsia” or “the Company”) is pleased to announce that the Company has on 1 July 2014 entered into a Shareholders’ Agreement (“the Agreement”) with Octave Japan Infrastructure Fund I GK (“Octave”), Rakuten, Inc. (“Rakuten”), Noevir Holdings Co. Ltd. (“Noevir”) and Alpen Co. Ltd. (“Alpen”) (collectively the “Investors”).

The Agreement is formalised for the purpose of forging a joint venture cooperation between AirAsia and the Investors to establish a low cost airline in Japan based on the successful AirAsia business model (“the Joint Venture”).  The Joint Venture shall be operated through a special purpose vehicle, namely AirAsia Japan Co., Ltd. (“AirAsia Japan”).

Please refer to the attachment for further details.

This announcement is dated 1 July 2014.