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Bidding for AirAsia’s leasing arm in last lap

14 Dec 2017 19:55:45

thestar.com.my

The bidding for budget carrier AirAsia Bhd

image: https://cdn.thestar.com.my/Themes/img/chart.png


’s leasing arm is in its final stages, with group chief executive officer (CEO) Tan Sri Tony Fernandes hoping that the sale can be completed soon.


The sale of the leasing arm is part of the move to streamline the airline’s operations and assets ahead of a reorganisation that will see a holding company, AirAsia Group Bhd, assuming the listing status of AirAsia and including the carrier’s regional associates in Indonesia, the Philippines and Thailand. AirAsia currently holds a 49% stake, respectively, in AirAsia Indonesia, AirAsia Philippines and AirAsia Thailand.


The reorganisation will make the financial performance of the various units more transparent, as the airline operations will be separate from the non-airline operations. A court-convened shareholders’ meeting has been scheduled for Jan 8 for the reorganisation. Upon shareholders’ approval, the various transfers of the assets will be executed and this process can take up to the first quarter of next year.


Read full story: thestar.com.my

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