Hong Kong businessman and poker player Stanley Choi backs AirAsia’s recovery
Hong Kong businessman Stanley Choi Chiu-fai has backed AirAsia Group to be a front runner in the airline industry’s recovery from the Covid-19 crisis by investing HK$400m (US$55.6m) in the low-cost carrier. The merger and acquisitions specialist, who is also a professional gambler, upped his stake in the firm behind Southeast Asia’s largest budget carrier to last week become its third largest shareholder. “The airline industry has experienced a tough time over the pandemic period but seeing the vaccine roll-out, we can see all the industries and companies like airlines bounce back in terms of stock price,” the 52-year-old said. Choi said the Covid-19 pandemic had bottomed out, prompting his months-long effort to build up an eventual 8.96% stake in AirAsia. “When the placement chance came up, I seized this opportunity,” explained Choi, who also disclosed he bought an “insignificant” number of Cathay Pacific Airways shares when the company launched its rights issue last year. “When we look at the peers in the same industry, I see there’s a good opportunity [to invest]. I see that AirAsia will be the first group of companies that will bounce back.” <br/>
https://portal.staralliance.com/cms/news/hot-topics/2021-03-04/unaligned/hong-kong-businessman-and-poker-player-stanley-choi-backs-airasia2019s-recovery
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Hong Kong businessman and poker player Stanley Choi backs AirAsia’s recovery
Hong Kong businessman Stanley Choi Chiu-fai has backed AirAsia Group to be a front runner in the airline industry’s recovery from the Covid-19 crisis by investing HK$400m (US$55.6m) in the low-cost carrier. The merger and acquisitions specialist, who is also a professional gambler, upped his stake in the firm behind Southeast Asia’s largest budget carrier to last week become its third largest shareholder. “The airline industry has experienced a tough time over the pandemic period but seeing the vaccine roll-out, we can see all the industries and companies like airlines bounce back in terms of stock price,” the 52-year-old said. Choi said the Covid-19 pandemic had bottomed out, prompting his months-long effort to build up an eventual 8.96% stake in AirAsia. “When the placement chance came up, I seized this opportunity,” explained Choi, who also disclosed he bought an “insignificant” number of Cathay Pacific Airways shares when the company launched its rights issue last year. “When we look at the peers in the same industry, I see there’s a good opportunity [to invest]. I see that AirAsia will be the first group of companies that will bounce back.” <br/>
