On 8 December, 2001, Tune Air Sdn Bhd officially acquired 99.25 per cent equity (51.68 million shares) in AirAsia from DRB-Hicom, one of Malaysia's giant conglomerates. Tune Air Sdn Bhd is the holding company, while AirAsia remains as the operating company. With this acquisition, AirAsia, Malaysia's second national airline, became Asia's first low fare, ticketless airline.
AirAsia currently operates over 100 point-to-point domestic and international flights from its hubs in Kuala Lumpur International Airport (KLIA) and Senai Airport, Johor Bahru in Malaysia; Bangkok International Airport in Thailand; and Soekarno-Hatta International Airport in Jakarta, Indonesia.
AirAsia offers a simple 'no frills' service at fares that are on average significantly lower than those offered by traditional full-service airlines. Modeled on successful low fare airlines such as the U.S.-based Southwest Airlines and Dublin-based Ryanair, AirAsia was established to create a new aviation product in Malaysia, one that would revolutionise air travel, and grow the local aviation market by providing incredibly low fares so more people can fly.