British businessman Richard Branson will take a 20 percent stake in Malaysia's AirAsia long-haul budget carrier which is tipped to begin services next month, an airline executive said Friday.

"Branson is taking a 20 percent stake. He is injecting capital into Fly Asian Xpress Sdn Bhd. (FAX)," the official told AFP on condition of anonymity. He did not disclose other details.

FAX is the long-haul operator of AirAsia X.

The company was to make the official announcement later Friday regarding Branson's investment.

Branson, the founder of Virgin Group, will attend the historic event which will be held at Malaysia new administrative capital Putrajaya, south of the capital Kuala Lumpur, the source also said.

Analysts describe Branson's move as a major coup for budget carrier AirAsia's chief executive Tony Fernandes.

Fernandes, founder and director of FAX holds 50 percent in the firm and his deputy owns Kamarudin Meranum 30 percent.

FAX has 15 widebody A330-300 airliners on order from Airbus, the European manufacturer.

Meanwhile, The Edge financial daily cited sources in a report that AirAsia X had already secured rights to fly to Australia and Stansted in London.

AirAsia X is scheduled to begin long-haul flights to China and Australia on September 8, using three leased planes, from the low-cost carrier terminal at Kuala Lumpur International Airport (KLIA), company officials earlier said.

At its launch in January, the carrier had promised budget flights to Britain beginning in July.

Fernandes launched AirAsia as a pioneering regional budget carrier in December, 2001, with two aircraft. It now serves domestic and international routes throughout the region.

AirAsia shares traded lower, lost 0.05 to 1.94 (0.59 dollars) in early trade.