AirAsia founder Tony Fernandes revealed that the airline's branding unit is nearing a Nasdaq-listed target for a backdoor listing later this year. The newly created entity would be valued at approximately $1.5 billion, marking a significant milestone for the Asian carrier's expansion beyond aviation.

This move represents a strategic pivot for AirAsia, which has been diversifying its business interests in recent years. The branding unit encompasses various consumer-facing ventures, including food and lifestyle products that leverage the airline's established name recognition across Southeast Asia. Fernandes has been vocal about transforming AirAsia from a pure-play airline into a lifestyle brand.

The backdoor listing approach allows the branding unit to access public markets without going through the traditional IPO process. This method typically involves merging with a special purpose acquisition company already trading on the exchange. The deal would provide AirAsia with additional capital to fund its expansion plans while giving investors exposure to the company's non-aviation revenue streams.