AirAsia X to sell 20% stake for $75m?
Low-cost long-haul airline AirAsia X Sdn is reportedly planning to sell 20% stake to two investors for a total of $75 million. The development, reported by Bloomberg, has been attributed to "two people familiar with the deal". (1/14/2008)
"The investors, one from the Middle East and the other from Japan, will each take a 10% stake in the company, said the people, who asked not to be named before an announcement that may come as early as next week," as per the report out last week. It is being said that the carrier needs to raise funds to pay for the 15 twin-aisle A330-300s, valued at $2.87 billion at list prices, that it has ordered from Airbus SAS.
AirAsia X Chief Executive Officer Azran Osman Rani declined to comment on the stake sale.