AirAsia Japan Teams Up With Rakuten

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July 1 (Bloomberg) – AirAsia Chief Executive Officer Tony Fernandes discusses joint ventures with various Japanese companies to gain greater access to the travel market. He speaks with Anna Edwards on Bloomberg Television’s “On The Move.” (Source: Bloomberg)

Joint -- ensure the joint venture and japan is a little longer?

I hope we do not go 1, 2, 3, 4, 5. there are no guarantees in life.

We have some partners that have a like minded view so we feel confident we will be able to extract tremendous value.

It is interesting, isn't it, tony?

Various policies.

An online retailer in japan and all kinds of businesses.

You have a lot of experience doing it with other airlines and i do not work out in japan.

You are going to another route.

How do you think of being with an on-time retailer will be a more successful formula?

Well, actually, aa was our first airline with a joint venture and we partner with like-minded entrepreneurs.

Air asia is an internet company.

I tried to tell so many people that 80% of our business is online and the potential of doing high ups to do stuff with their online shop and with ci -- is vicki, there are entertainment platform.

What we can do on top of the fact they have a huge client database and the travel market.

The main reason for this is really like-minded people who want to do something and change the way the japanese aviation is.

And very influential and will help us and developing the law calls industry and deregulation.

-- low-cost industry and deregulation.

A keen interest in for.

How much time you spent talking about aviation and about cpr?

We will not talk about that.

Tell me about the ownership rules.

Which dr.

Dubious partnership deals because you cannot take -- which you have to do with these partnership deals because you cannot take a majority stake.

It has to be much easier if you do not have this type of legislation.

Without a doubt.

It is one of those whippings that happens that airlines are so nationalistic that you cannot own more than 50%. these things are growing -- are changing and you have seen in europe with ryan air.

We will be able to earn more than 50% and working hard on that.

And without economic integration, we help airlines will be, the first industry where we can own a 100% so it takes time.

When i came in 12 years ago, it changed a lot.

I am very excited about the integration.

And who knows, we can persuade the japanese and indian that we got on more than one and maybe a group company.

These things take time.

-- we can own more than one and maybe a group company.

What will be the secret for locals in japan?

Some are pointed out despite low cost competition, aa has held onto a lot of power.

There is no true low-cost airline.

The ones i have have shareholders that are premium airlines.

They are majorly conflicted because of a on a premium airline -- because they own a premium airline.

Having low-cost airports and deregulating the market in japan is a fantastic market.

And zip government is drive -- and the abe government is driving it hard.

They sit on the boards of wonderful carriers in taiwan and southwest you jump.

Every agent wants to come to japan.

-- and southwest asia.

It is too expensive to travel right now.

I am optimistic.

I am optimistic we invented the price down.

Airports are usually high cost.

Tell me about your thinking on aircraft.

We are looking forward.

Changes around that particular aircraft.

Is that something you are interested in?

1000 billion, trillion percent.

I have driven rolls-royce crazy.

Hopefully, i have persuaded them and we will have to wait and see and they believe this the right aircraft but i think if they come out, it would be a killer aircraft.

A you think they might come out maybe maybe -- are we that close to an announcement?

[laughter] not for me to say.

That's for the airbus people.

All i can say is they are the wives m -- wise men and they would know better.

I look at it from a one-dimensional aspect.

A final thought.

I mentioned some of the support and interest.

You have had this long-standing relation with formula one.

Db you want to get out the formula one anytime -- it do you think you want to get out of formula one anytime?

I think formula one needs a loss of focus.

What i do love is the car business.

Dachshund needs a lot of focus.

Formula one will let people know.

We'll watch in the space but we love what we do.

Tony, thank you very much.

Good look for your venture.

Tony fernandes.

Cheers.

Let's have a look at the bill finger.

It is based -- no, there it is.

I am looking at the wrong charge.

They are down 15 points.

They have lowered their outlook.

The company is going to and adjust for the further short term in cost reduction without delay according to that business this morning.

Bnp has agreed to plead guilty to u.s. sanctions of violations and pay nearly $5 billion.

The senior adviser to discuss the banking sector and how we should view the banking sector

This text has been automatically generated. It may not be 100% accurate.

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