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Malaysia's AirAsia May be Taken Private: Report

10/10/2008| 10:25:00 AM| 中文

Thursday, October 09, 2008: Malaysian low-cost carrier, AirAsia will soon be taken private, according to the Malaysian business weekly, The Edge.

Thursday, October 09, 2008: Malaysian low-cost carrier, AirAsia will soon be taken private, according to the Malaysian business weekly, The Edge.

AirAsia´s controlling shareholder is Tune Air Sdn Bhd, which held 30.7 percent of the company´s shares as at end-March this year, the Edge reported on Saturday.

Tune Air´s shareholders are AirAsia Chief Executive Officer Tony Fernandes and AirAsia Executive Director Kamarudin Meranun, the report added.

"(AirAsia) has generated a lot of interest but there has always been skepticism about its business model from investors looking at short term returns," the weekly quoted an unnamed source as saying. "This has frustrated the major shareholders."

The International Air Transport Association (IATA) has estimated that airlines around the world will post losses of $5.2 billion this year.

Since the start of the year, AirAsia shares have lost 23 percent, outperforming the benchmark Kuala Lumpur Composite Index .KLSE which has fallen 30 percent.

AirAsia officials could not be reached for comment.
TAGS: AirAsia | IATA | Tune Air
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