The Board of Directors of AirAsia wishes to announce that the Board had on 15 May 2012 resolved to recommend for AirAsia shareholders’ approval at its forthcoming Nineteenth Annual General Meeting to be convened on a date to be announced later in respect of the First and Final Single Tier Dividend of 50% or 5 sen per ordinary share of RM0.10 in respect of the financial year ended 31 December 2011, payable in cash on 20 July 2012 to the holders of ordinary shares registered in the Record of Depositors at the close of business on 21 June 2012. The single-tier dividend is tax exempt in the hands of the shareholders pursuant to paragraph 12B of Schedule 6 of the Income Tax Act, 1967.

The notice of dividend entitlement and payment shall be announced and advertised at a later date.

This announcement is dated 15 May 2012.