KUALA LUMPUR (June 21): AirAsia Bhd plans to launch its financial technology (fintech) programme, which will enable an in-flight purchase platform for its 60 million passengers, in three months upon approval from Bank Negara Malaysia.

AirAsia group chief executive officer Tan Sri Tony Fernandes, quoted by Bernama, said the programme called 'The Big' also enabled banking and financial services.

It comes on the heels of the Jan 3 incorporation of 83.3% of Singapore-based Big Pay Pte Ltd in a move to offer digitalised and cashless solutions as it steps into the fintech realm.

"The fintech would ease the purchasing process in the future, especially when AirAsia aims to achieve a record of 100 million customers flying with us by 2021," Bernama quoted him as saying.

Fernandes, who was addressing a press conference at the 2017 Skytrax World Airline Awards in Paris, said 25% of AirAsia bookings were made online.

Bernama wrote that currently, AirAsia has the BIG Prepaid MasterCard in partnership with MasterCard, which acts as a multi-currency wallet, has a virtual option, and is already in use as a loyalty card by AirAsia's frequent flyers.

Meanwhile, Fernandes said AirAsia India would increase its fleet size to 20 from 10 now by the end of 2018, following the Indian Civil Aviation Authority's amendment of a foreign carrier rule in 2016.

Bernama said the airline can fly internationally from India if it scales up its fleet to 20 planes or deploys 20% of its capacity on domestic operations, whichever is higher.

Bernama reported him as saying that the airline would see more flight frequency and direct flights from Indian cities to international sites such as Bali.

At 12.17pm, AirAsia's share price dipped four sen or 1.26% to RM3.13, with 7.8 million shares transacted, for a market capitalisation of RM10.5 billion.