Having been bought by Tune Air - a local music record label (EMI-Warner Malaysia), Air Asia is keen to continue with its expansion and has brought in ex-Ryanair executives to oversee its plans - despite the recent events surrounding travel and the aviation industry.
Air Asia plans to become Southeast Asia's first 'no-frills' airline and hopes to emulate Ryanair's and EasyJet's success. It states that currently only 6% of Malaysians use air travel as a main source of travel - so it sees the domestic market to be potentially huge.
Air Asia has already begun expanding regionally and it is unclear as to whether or not it plans to make these routes 'no-frills' or not.
Although entirely owned by Tony Fernandes - a local - Tune Air has not denied allegations that he has been in contact with Richard Branson and the Virgin Group.