KUALA LUMPUR: AirAsia Group is well-positioned to weather the Covid-19 pandemic crisis, supported by its cash position as well as brand strength and value, according to Brand Finance.
The independent brand valuation consultancy recently released its annual report on the most valuable and strongest airline brands — the Brand Finance “Airlines 50” for 2020.
Brand Finance Asia Pacific managing director, Samir Dixit said AirAsia is one of the 30 global airline brands poised to survive the Covid-19 crisis.
“While there were very few brands that had positive brand value growth, AirAsia found itself to be a strong contender with some of the best brands in the world.
“This can undoubtedly be attributed to the consistency of brand experience and the brand building efforts by AirAsia across customers and other stakeholders,” he said in a statement today.
AirAsia was the only Asean low-cost carrier featured on the list, with a 15.5 per cent year-on-year (y-o-y) growth in brand value — the highest in Asia and the second highest among all airlines globally, making it one of the top 25 most valuable airline brands in the world.
According to the report’s 10 Strongest Brands ranking, AirAsia had the highest y-o-y increase in brand value and is one of only four airline brands in the world to have an AAA+ rating, based on marketing investment, familiarity, loyalty, staff satisfaction and corporate reputation.
On another note, Samir said the current Covid-19 crisis presents a dangerous threat to airlines and will not be easy to manage, given that airlines will struggle to recapture lost demand and could lose up to 20 per cent in overall brand value.
Meanwhile, AirAsia Group (Airlines) president, Bo Lingam said customers will always remain as the airline’s top priority.
“We will never stop to always put our customers at the core of every decision we make to ensure we provide the very best value for air travel experience,” he said.
Last week, the airline resumed scheduled domestic flights in Malaysia and Thailand, with strict health controls and social distancing protocols in place in compliance with the regulations after a period of hibernation following the Covid-19 pandemic.
It said resumption of its services in the Philippines, Indonesia, India as well as Japan will begin soon and will include other international destinations once the global situation improves and governments lift borders and travel restrictions. – Bernama
