AirAsia to spin off concert ticketing business
Malaysian low-cost airline AirAsia is gearing up for a stock market float of its RedTix event ticketing operation, according to a new filing with the Bursa Malaysia stock exchange.
RedTix, previously operating as a division of AirAsia Bhd, is one of the region’s most popular local ticket agencies, with upcoming events including Malaysian shows by Taiwanese rock duo Power Station (pictured), Cantopop group Twins and Bollywood touring production Da-Bang.
By acquiring dormant shell company Rokki Media Holdings and rebranding it RedTix Sdn Bhd, AirAsia Bhd (AAB) will, says the filing, be able to “float the RedTix event ticketing business in the future, which currently resides within AAB, as a separate entity by itself to enable it to have an independent and focused management to drive the […] business”.
The new company’s directors are Sami Joseph El Hadery, the co-founder of AirAsia’s Tune Box inflight entertainment brand, and the airline’s chief financial officer, How Kim Lian.
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