Thursday 28 Mar 2024
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KUALA LUMPUR (Oct 1): AirAsia Group Bhd has transferred 19 more aircraft to entities managed by BBAM Ltd Partnership for US$233.5 million (RM966.67 million).

The move is part of the divestment plan for AirAsia's aircraft-leasing unit, currently managed by wholly-owned Asia Aviation Capital Ltd (AACL)

In a filing with Bursa Malaysia, AirAsia said the transfer is pursuant to agreements it had signed with Incline B Aviation Ltd Partnership and FLY Leasing Ltd on Sept 27 and 28.

"To date, the cumulative number of aircraft transferred is 73 aircraft and AirAsia has already received gross proceeds totalling US$936.6 million," it added.

There remains 11 aircraft and 14 spare engines to be transferred, under the deal to dispose of 84 aircraft and the engines from AACL to units managed by BBAM for US$1.185 billion (RM4.62 billion) as proposed on March 1.

The deal also includes leaseback of 79 of the aircraft, and all 14 engines.

AirAsia said it is optimistic that the remaining transfers will take place by end-October. "A further announcement will be made accordingly," it added.

Shares of AirAsia fell 10 sen or 3.17% to close at RM3.06, giving the airline a market capitalisation of RM10.56 billion.

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