Air Asia X looks for capital investment
Low-cost Malaysian carrier AirAsia's long-haul unit is in talks with Middle Eastern investors, its chief executive said, as it seeks fresh capital to help fund a potential expansion into Europe and Africa.
Air Asia X CEO Azran Osman-Rani said the Malaysian carrier needs “a stronger equity base after 2010”, as it launched direct flights from Kuala Lumpur to Abu Dhabi, reported Reuters.
“There has been interest from investors in the Middle East, including institutional investors and sovereign wealth funds,” he said.
He declined to specify who the carrier was in talks with, adding that the size of any stake sold “will be decided next year and (depends) on the appetite of investors”.
Bahrain-based Manara Consortium took a 10-percent stake in Air Asia X last year.
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