Malaysia's AirAsia aims to raise $602m, to evaluate Japan operations

AirAsia Group is looking to raise as much as 2.5b ringgit ($602m) by year-end, and is also reviewing its business in Japan as the airline seeks to weather the COVID-19 crisis, its CE said Monday. Group CEO Tony Fernandes said that the group, Malaysia's flagship budget airline, could raise up to 1.5b ringgit from bank loans and another 1b ringgit from investors. The investors it is talking to include private equity players, strategic partners and conglomerates, both local and foreign, he said. "It's progressing quite well and I see no reason why that won't be met. But I can't add too much more to that," he said. Fernandes also said the group was evaluating its operations in Japan, the smallest of its foreign offshoots, although its joint venture with Tata Sons in India remained "as is". "I think Japan is something we have to really think hard about. If we had tonnes of cash, then it's something we would probably continue. I think we will have decisions on Japan very soon," he said, declining to elaborate.<br/>