of MYR1.62 billion (US$390 million at 2016 exchange rates). According to the Financial Times, as of June 2015, the largest shareholder of AirAsia X Berhad was Tune Group (a private investment vehicle owned by Tony Fernandes and Kamarudin Meranun), which owns a 17.8% stake. AirAsia Berhad (which Tune owns 19.1% of) holds a further 13.8% of AirAsia X while Tony Fernandes and Kamarudin Meranun also hold personal stakes, of 2.1% and 8.1% respectively. Lim Kiann Onn, a founding director and shareholder of other Tune Group businesses such as Tune Money and Tune Hotels, is the 4th largest shareholder, with 4.47% of the company. Affiliate airlines Indonesia AirAsia X Indonesia AirAsia X is a joint venture of AirAsia X. It serves Indonesia AirAsia's regularly scheduled long haul international flights from Bali's Ngurah Rai International Airport. Indonesia AirAsia X was planned to launch its first destination to Melbourne on 26 December 2014 but was delayed till 18 March 2015 due to delays in route approval from Australian authority. Instead, Taipei became Indonesia AirAsia X first destination by launching service on 30 January 2015. In November 2018, the airline announced that it will be ceasing scheduled operations from January 2019, it however it will be operating non-scheduled operations from then. Thai AirAsia X Thai AirAsia X is a joint venture of AirAsia X in Thailand. Thai AirAsia X is Thailand's first long-haul low-cost airline and began operation since its maiden service from Bangkok to Incheon, South Korea on 17 June 2014 and followed by Tokyo Narita and Osaka Kansai in Japan. Destinations , AirAsia X operates or has previously operated to the following destinations: Future expansion In June 2011, the airline received government approval to begin service to six cities: Beijing, Shanghai, Osaka, Jeddah, Istanbul, and Surat. AirAsia X also plans to fly to Xi'an, Wuhan and Shenyang in the People's Republic of China. In 2009, the airline announced that it planned to serve Africa. AirAsia X also announced plans to expand to Japan and further into Australia. On 12 January 2012, AirAsia X withdrew services to Delhi, Mumbai, London and Paris, citing high fuel prices, "exorbitant" taxes, and weak travel demand. The airline also announced that it would fly from Kuala Lumpur to Sydney effective 1 April 2012. Shortly after the announcement of the Sydney launch, the airline is also looking to serve Adelaide as the airline continues to expand in Australia.