Thai AirAsia taps crowdfunding to shore up capital

Thai AirAsia has launched a crowdfunding bond campaign as part of efforts to beef up its war chest against the pandemic’s impact. The carrier says the crowdfunding effort — approved by Thailand’s Securities and Exchange Commission — will allow retail investors and the general public to invest in the airline and “support its journey to recovery”. The debenture is available for subscription on Thai investment platform Peer Power. The campaign, known as “Project Lift”, will see Bt80m ($2.44m) in bonds issued, with a bond term of six months. According to the fundraising page, the minimum investment amount stands at Bt50,000, which will “enable retail investors to actively participate in the drive”. Thai AirAsia states that proceeds from the crowdfunding campaign will help it “shore up its short-term stability”. <br/>