AirAsia weighs BNP, Credit Suisse, RHB for leasing unit sale

AirAsia is considering hiring BNP Paribas, Credit Suisse Group and RHB Capital to help sell its aircraft leasing unit as part of plans to raise funds and strengthen its finances, the group’s CE Tony Fernandes said. The carrier also plans to garner between US$75m and $100m from a sale of new shares in its Philippine arm, Fernandes said. Besides the existing shareholders, “three other parties are also interested” in Philippines AirAsia and the carrier will mandate banks for the sale in 2 or 3 weeks, he said. A potential deal involving the sale of the leasing unit, Asia Aviation Capital, would again highlight the popularity of a lucrative industry that has lured billionaires. As airlines in Asia-Pacific move to triple their fleet, they are finding it cheaper to lease jets rather than own them. <br/>