Fly from Australia to Malaysia for $A31
Air Asia X - an offshoot of Asia's biggest low cost carrier Air Asia - announced the Gold Coast would be its first global destination from its Kuala Lumpur-base, with flights potentially from next month.
"The Gold Coast would be the first destination," Air Asia X founder Tony Fernandes said.
"Fares would range from as low as 90 ringgit to an average fare which would be in the 1,900 ringgit ($A647) mark return."
The new long-distance budget airline has previously flagged standard fares 30 to 50 per cent cheaper than its competitors, from Australia to the Malaysian capital, and then a host of far flung places, including the UK, Middle East, India and China.
It will have close ties with Australian carrier Virgin Blue, with colourful billionaire founder Sir Richard Branson on Friday taking a 20 per cent stake in the venture in a lavish ceremony in Malaysia.
Branson's Virgin Group also has a 26 per cent stake in Australia's Virgin Blue, which is based at the Gold Coast.
"There's a good linkage with Virgin Blue," Air Asia X founder Tony Fernandes said.
"The Gold Coast was an airport that was very, very aggressive.
"Coolangatta gave us a very attractive deal, it's a wonderful tourist destination for all of ASEAN and other parts of Asia to go (there)."
Victoria's Avalon airport and Stansted in London are also likely to be early destinations, after the airline was on Friday granted the rights to fly there.
The airline is still in the process of getting other approvals to fly to Australia.