AirAsia To Sell Aircraft Worth RM7.39 Billion, Says Fernandes

AirAsia To Sell Aircraft Worth RM7.39 Billion, Says Fernandes

KUALA LUMPUR, March 20 (Bernama) — AirAsia Bhd will sell aircraft, worth US$2 billion (RM7.39 billion), says Group Chief Executive Officer Tan Sri Tony Fernandes said Friday.

“Ownership of aircraft is now coming into force. We have 150 aircraft which we will sell worth at least US$2 billion,” he said in Twitter, the micro-blogging site.

He quashed talks that the airline was looking to raise equity.

“There is talk we are looking to raise equity. Completey wrong. At our share price why would we? Plus, we don’t need cash. Cash is very strong with operational cash being very positive,” he twitted.

Recently, AirAsia announced that it was reducing its stake in an online travel, agency AAE Travel Pte Ltd (AAE), from 50 per cent to 25 per cent.

It sold the 25 per cent shares to Expedia Inc for US$86.25 million (about RM318.75 million), gaining US$78.76 million (RM291 million) from the disposal.

Fernandes also said AirAsia’s share price was the most undervalued share of all airlines in the world of matured airlines.

At 10.04 am, AirAsia’s share price was flat at RM2.23.


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