Lion Group's president director Rusdi Kirana has certainly been kept busy.
In an eight-month period, he has announced plans to start a private jet unit called Space Jet, a premium airline named Batik Air and most recently, Lion's first overseas subsidiary, Malindo Airways in Malaysia.
This effectively means that Lion Air, Indonesia's largest low-cost carrier, is stepping onto AirAsia's turf.
Kirana has also promised that as a newcomer, Malindo will offer ticket prices lower or at least on par with that of AirAsia's, a move that analysts say will likely spark a price war.
To top that, Malindo's Boeing 737-900ERs will be fitted with 180 seats instead of the maximum 219, when it starts operations next May. This will allow for a wider 31in (78.7cm) seat pitch and in-flight entertainment systems. The carrier will also offer light meals. This goes against AirAsia's pure low-cost model of putting in the maximum number of seats on its aircraft and charging for any frills.
Malindo will first focus on flights between Kuala Lumpur and Indonesia, before launching other regional services. It will also operate domestic services.
Lion's decision to start a carrier in Malaysia has, however, left some analysts puzzled.
"AirAsia and Malaysia Airlines dominate about 75% of domestic market share. It doesn't make economic sense for Malindo to come into the picture. The market in Malaysia is totally saturated and if you want to focus on routes between Malaysia and Indonesia, you don't need to start an airline," says Ravi Madavaram, aerospace and defence consultant for Frost & Sullivan Asia-Pacific.
Lion's foray into Malaysia is also unlikely to affect AirAsia's dominant position in the country, although news of Lion's entry has sent its share price slipping.
"While it will have an impact on rival LCC AirAsia, it is unlikely to seriously hurt the incumbent as AirAsia has been around for over a decade and has a first-mover advantage compared to other wannabes," says Standard & Poor's analyst Shukor Yusof. He adds that AirAsia has also proven to be extremely well managed, aggressive and nimble.
The main victim of the Lion Air and National Aerospace and Defence Industries (NADI) joint venture is likely to be flag carrier Malaysia Airlines (MAS), which is struggling to restructure itself and return to profitability. If Malindo sticks to what it promises - frills and comfort at low prices as well as efficient frequencies and turnarounds - passengers may find little reasons to fly with MAS.
"MAS has a high cost base, they will never be able to compete with the costs of an LCC," adds Madavaram.
Industry sources, however, say political considerations could be behind Kuala Lumpur's support for Malindo following the failed share swap agreement between AirAsia and MAS. The agreement was intended to stem rivalry between the two carriers, with national investment agency Khazanah Nasional to buy 10% of AirAsia and AirAsia X, and AirAsia's parent Tune Air to take 20% of MAS. The agreement dissolved earlier this year, however, reportedly as a result of fierce opposition from MAS' unions.
AirAsia founder Tony Fernandes is influential in Malaysia. If the share swap proceeded, it could have greatly complicated any effort by Lion to gain a foothold in the country.
This is precisely why Lion dropped its plans to enter Malaysia's low-cost market in collaboration with Berjaya Air last November, say analysts. The initial plan had been to transform Berjaya into a low-cost operator, with Lion holding a 49% stake.
But given Malaysian prime minister Najib Razak's presence at the joint venture signing ceremony, Malindo appears to be more than welcomed in Kuala Lumpur.
MAS, which is aware that it lacks a low-cost unit to compete with the rise of such operators in the region, now needs to decide on a strategy for its turboprop subsidiary Firefly - whether to turn it into an LCC, or to let it remain in its niche and start a proper low-cost operation.
In 2011, pressure from AirAsia on short-haul routes prompted MAS to convert Firefly into a budget operator. Firefly returned to a conventional business model when the proposed share swap agreement with MAS was struck. Now that the deal is off, MAS is again toying with the idea of turning Firefly into an LCC.
The challenge for Lion in the meantime, is to see that Malindo remains solvent in the long run with its hybrid business model and to ensure that its collaboration with NADI works smoothly.
"Adding frills mean more complications, more costs. Another concern is how the joint venture will evolve, if there'll be any synergy at all, given that the two parties come from markedly different operating environments," says Yusof.