An investment of $60 million has brought to an end a seven-year joint venture between Expedia Group and AirAsia to sell the airline's tickets alongside hotels.
The deal will see Expedia Group take full ownership of the AAE Travel business, the JV behind the consumer-facing AirAsiaGo website that, until now, AirAsia owned a 25% stake in since 2015.
AirAsiaGo will continue to be powered by Expedia Group, featuring air tickets from the carrier alongside hotels from Expedia and packages of the two bundled together.
The site also sells tours and activities, transfers and insurance.
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The JV was first signed in March 2011 between AirAsia boss Tony Fernandes and ex-Expedia Group chief, Dara Khosrowshahi.
The AirAsiaGo service was created as a mechanism for the airline, with its large network of routes, to capture consumers through other marketing channels as well as its existing website.
AirAsia says the agreement to sell its 25% stake signals the end of its disposal of "non-core investments".
AirAsia looking at bigger fish
In a statement, Fernandes adds that the proceeds will be used to fund what the airline calls "big unicorn products".
These include its interests in BigPay, Redbox Logistics, Ourshop and Travel 360.
Referencing the Expedia Group deal, he says: "This first set of joint ventures has taught us a tremendous amount and shareholders who have seen huge returns from our first round of partnerships haven't seen anything yet."
AirAsiaGo comes in more than ten different versions, including sites for travelers in Thailand, Singapore, China, Japan and India.
Expedia Group CEO and president, Mark Okerstrom, says: "Acquiring full ownership of AAE Travel reflects our belief in the immense potential for us in the over $485 billion Asian travel market.
"This transaction unlocks better integration of our Brand Expedia Asia business into our core global travel platform, giving us even greater confidence in our ability to harness the huge growth potential that Asia represents."
Mark Okerstrom at The Phocuswright Conference