Wednesday, December 4, 2024
HomethailandgeneralAirAsia parent plans to raise more than $1bn in debt, equity

AirAsia parent plans to raise more than $1bn in debt, equity

KUALA LUMPUR – Capital A Berhad, the parent of AirAsia, is planning to raise more than US$1 billion in debt and equity and will list some of its businesses through a blank-cheque company, according to a report published on Wednesday.

Capital A CEO Tony Fernandes has agreed to a deal with Aetherium Acquisition, a special purpose acquisition company, and plans to list several businesses through it next year, the Financial Timesreported, citing two people familiar with the deal.

This includes a new business extending the AirAsia brand to companies hoping to start airline franchises in developing countries, the report said.

The group has been evaluating fundraising options for a planned US listing after it was hit by coronavirus pandemic travel restrictions in Asia, leading Bursa Malaysia Securities to classify it as a PN17 company, or financially distressed, last year.

The potential fundraising also includes a $150 million loan from Bangkok Bank this month, FT said.

Capital A and Aetherium Acquisition did not immediately respond to Reuters‘ requests for comment.

RELATED ARTICLES
- Advertisment -

Most Popular