AirAsia Group Berhad, the parent company of Philippines AirAsia, Inc., has changed its name to Capital A “to reflect its new core business strategy,” the group announced on Friday.

“The name change reflects the group’s new core business strategy as an investment holding company with a portfolio of synergistic travel and lifestyle businesses, which have rapidly transformed the AirAsia brand into much more than just an airline,” the group said in an e-mailed statement.

The group said it intends to use the data it has built over the last 20 years and incorporate new technologies in the business to offer a wide range of products and services, not just airfares.

“The pandemic has allowed us to accelerate that strategy,” Capital A Chief Executive Officer Anthony Francis “Tony” Fernandes noted.

“The strategy behind the change of name is to introduce a new corporate identity that better reflects the Group’s core businesses today and its future undertakings, in tandem with our rapid transformation from an airline into a one-stop digital travel and lifestyle services group,” he added.

The group is hoping that the new company name will further improve the marketability of its products.

“We are now delivering more products and services under one umbrella than any other brand in Asean and with access to over 700 million people in the region, I foresee incredible growth opportunities for our brand across many different industries in all of our core markets,” Mr. Fernandes said.

On its airasia Super App, the group offers 16 products and services, including food, retail and e-commerce, same-day delivery, and ride hailing, among others.

On the group’s airline business, Mr. Fernandes said: “While Capital A will be the new group holding company name, one thing that isn’t changing is the AirAsia brand name for our airlines.”

“It’s one of the strongest brands in Asia and provides a solid platform for all of our other products and services to leverage from each other,” he added. — Arjay L. Balinbin