Capital A is consolidating its carriers, including long-haul unit AirAsiaX, into a standalone aviation company called AirAsia Group.

While Teleport contributed just 5% of Capital A’s revenue, it will be the parent company’s biggest unit after the restructuring, and harbours its own plans to eventually list, said Teleport CEO Pete Chareonwongsak.

Key to that is rapidly increasing Teleport’s parcel delivery capacity to two million packages a day by end-2025 — more than 10 times its current level, he said.

The unit has raised about US$40 million (RM189 million) to date, which will be used to fund the expansion, and it will probably take a couple of quarters after the restructure for investors to see Teleport’s business model has not changed much, he added.

“We always operated a very arm’s length business, we have been funded independently, and we continue to grow on top of AirAsia’s growth,” he said in an interview.

Teleport is looking to add seven air freighters to its fleet to achieve its 2025 goals, either by operating third party freighters or its own, he said.

It currently has three of its own freighters, and Chareonwongsak said the company can easily add extra planes of its own within the next 18 months due to an oversupply in the freighter market.

“It’s actually very easy to get freighters, either A321, A320, A330s, or any variant. Getting seven new ones is the easy part, the hard part is how to pay for them,” he said.

Rather than raise more funding, Teleport is relying on its current asset-light model to meet its goal — filling up unused air-freight capacity by consolidating demand from multiple partners.

If it can meet its target, Teleport could be looking at a 30% market share in Southeast Asia’s estimated US$3 billion (RM14.2 billion) air e-commerce industry, he said.

The unit reported a revenue of RM223 million in the fourth quarter of 2023, a fraction of the RM4.6 billion Capital A’s airline business generated.

Still, Chareonwongsak said Teleport can “in time” produce those kind of revenue numbers and eventually list in its own right.