KUALA LUMPUR, April 10 – AirAsia Bhd has signed a brand licence agreement with Thai AirAsia X Co Ltd (TAAX), a Thai joint-venture company of AirAsia X Bhd, in relation to the use of the brand name, trademark and logos of AirAsia X in Thailand.
In a filing to Bursa Malaysia Thursday, AirAsia said under the agreement, TAAX would be allowed to use the AirAsia brand in the same manner and approach as AirAsia X within the AirAsia group of airlines.
“TAAX is in need of a brand identity and standard operating procedures to operate as a low-cost long-haul carrier in Thailand.
“AirAsia, together with the experience of an on-going brand agreement with AirAsia X, has the necessary intellectual property to address this need,” it said.
AirAsia said the brand licence fee would be 1.5 per cent of the consolidated revenue per audited financial statements per annum (in US$) for each financial year of TAAX.
It said the agreement would be for an initial term of five years and may be extended by TAAX subject to mutual agreement of the parties prior to the expiry of the term.