AirAsia to sell leasing arm as early as December to cut debt
AirAsia expects to sell its aircraft-leasing unit as early as December as the largest customer for Airbus' single-aisle jets aims to net as much as US$1b from the transaction and pare debt. Proceeds from the sale may be used to reduce debt or pay a dividend, Group CE Tony Fernandes said Tuesday. AirAsia’s board approved the sale process for all or a substantial part of the unit, established in 2014 as Asia Aviation Capital, the carrier said in a filing Monday. “Depending on who’s the buyer, and there seems to be tremendous interest, we’ll likely divest all or maybe keep a minority interest for a period and sell out,” Fernandes said. The divestment may help bolster the financials of the company, which had a total debt of US$2.6n at the end of June. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-08-31/unaligned/airasia-to-sell-leasing-arm-as-early-as-december-to-cut-debt
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AirAsia to sell leasing arm as early as December to cut debt
AirAsia expects to sell its aircraft-leasing unit as early as December as the largest customer for Airbus' single-aisle jets aims to net as much as US$1b from the transaction and pare debt. Proceeds from the sale may be used to reduce debt or pay a dividend, Group CE Tony Fernandes said Tuesday. AirAsia’s board approved the sale process for all or a substantial part of the unit, established in 2014 as Asia Aviation Capital, the carrier said in a filing Monday. “Depending on who’s the buyer, and there seems to be tremendous interest, we’ll likely divest all or maybe keep a minority interest for a period and sell out,” Fernandes said. The divestment may help bolster the financials of the company, which had a total debt of US$2.6n at the end of June. <br/>
