AirAsia to raise $259m to slash debt
Malaysia-based AirAsia, the region’s biggest budget carrier by fleet size, said on Friday it plans to raise 1.0b ringgit (US$259m) by selling shares to help cut its debt and finance the purchase of new aircraft. In accordance with the deal, the airliner will issue 559 million new shares to AirAsia founders — group CEO Tony Fernandes and chairman Kamaruddin Meranun. “The gross proceeds raised from the proposed shares issuance will be utilised for the prepayment and repayment of the AAB group’s indebtedness, financing of aircraft, engines and parts ... ,” the company said. AirAsia said the fund raising plan was expected to be completed by Q3 2016.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-04-04/unaligned/airasia-to-raise-259m-to-slash-debt
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AirAsia to raise $259m to slash debt
Malaysia-based AirAsia, the region’s biggest budget carrier by fleet size, said on Friday it plans to raise 1.0b ringgit (US$259m) by selling shares to help cut its debt and finance the purchase of new aircraft. In accordance with the deal, the airliner will issue 559 million new shares to AirAsia founders — group CEO Tony Fernandes and chairman Kamaruddin Meranun. “The gross proceeds raised from the proposed shares issuance will be utilised for the prepayment and repayment of the AAB group’s indebtedness, financing of aircraft, engines and parts ... ,” the company said. AirAsia said the fund raising plan was expected to be completed by Q3 2016.<br/>
