AirAsia offloads 20 per cent equity
Long haul low-cost carrier AirAsia X has sold 20 per cent of its equity for 250 million ringgit (300 crore rupees), 10 per cent each to Bahrain-based Manara Consortium and Japan-based Orix Corp.
By PTI |
KUALA LUMPUR: Long haul low-cost carrier AirAsia X has sold 20 per cent of its equity for 250 million ringgit (300 crore rupees), 10 per cent each to Bahrain-based Manara Consortium and Japan-based Orix Corp.
Manara and Orix will each receive 16.7 million newly issued common shares of AirAsia X or 10 per cent of the carrier's equity.
AirAsia X chief executive officer Azran Osman-Rani said today that the proceeds will enable the airline to fund aircraft orders already placed with Airbus and for further fleet expansion.
"We believe that AirAsia X is now well-placed to further enhance its reach to destinations in the Middle East and North Asia, and to continue to revolutionise the long-haul travel market by providing everyday low fares," he said in a statement here.
AirAsia X chairman Kalimullah Hassan said the two companies were chosen due to the strategic nature of their investment and their ability to bring much more than just financial clout to the table.
Manara and Orix will each receive 16.7 million newly issued common shares of AirAsia X or 10 per cent of the carrier's equity.
AirAsia X chief executive officer Azran Osman-Rani said today that the proceeds will enable the airline to fund aircraft orders already placed with Airbus and for further fleet expansion.
"We believe that AirAsia X is now well-placed to further enhance its reach to destinations in the Middle East and North Asia, and to continue to revolutionise the long-haul travel market by providing everyday low fares," he said in a statement here.
AirAsia X chairman Kalimullah Hassan said the two companies were chosen due to the strategic nature of their investment and their ability to bring much more than just financial clout to the table.
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