AirAsia announced a near future plan to launch a low-cost air ride-sharing service in Southeast Asia.

The low-cost airline signed a non-binding memorandum of understanding (MOU) with Avolon, an international aircraft leasing company, to lease at least 100 VX4 electric vertical take-off and landing (eVTOL) aircraft.

Tony Fernandes, CEO of AirAsia parent company, Capital A, said flights could start as early as 2025 with first VX4 test flight expected in April, and will operate under AirAsia’s ride-hailing platform.

The offered price point of the air ride-sharing services would be affordable, just as AirAsia had done for its regular flights.

Tony Fernandes mentioned that he is optimistic that regulators in Malaysia and Singapore could approve the operations earlier, compared to Indonesia, Thailand and Philippines.

"This will not be an exclusive product. We want this product to be accessible to everyone in the world," Tony Fernandes said in a statement.

Fernandes also added that some demand could be generated from the domestic tourism industry, opening new sectors for routes to Genting Highlands or Pulau Pangkor.

The VX4 aircraft, that can fit four passengers and one pilot, is projected to have speed of up to 321 km/hr, 160 km mileage and zero operating emissions.