The New Straits Times newspaper said that the Southeast Asia's pioneering low-cost carrier completed the deal with the giant Japanese constructor in Britain just before Sunday's season-opening Australian Grand Prix.
AirAsia officials could not be reached for comment.
The AirAsia's Formula One partnership comes after the carrier entered into a sponsorship deal with Manchester United in 2005 to attract global business.
Citing an industry source, the newspaper said the Formula One partnership would cost about 10 million ringgit a year and was for at least three years.
"Taking a cue from their English Premier League tie-up, this AirAsia partnership with
The bright red AirAsia logo was fixed on the nose of
AirAsia recently said its net profit for the six months to December soared to 227 million ringgit (64.7 million dollars) from 59.9 million ringgit.
AirAsia was launched as a budget carrier in 2001 with just two aircraft. It now offers more than 100 domestic and international flights to