This article first appeared in The Edge Financial Daily, on November 5, 2015.

KUALA LUMPUR: AirAsia Bhd, the largest low-cost carrier in Asia, yesterday noted the possibility of its major shareholders being approached with proposals, including a potential stake increase in the airline.

“However, the major shareholders have not reached any decision at this stage as there are many factors to carefully consider and this may or may not lead to any transaction,” said the airline.

In a filing with Bursa Malaysia yesterday, AirAsia said in the normal course of business its major shareholders will evaluate all strategic options with regard to its various investments from time to time.

“And the major shareholders get approached by several parties from time to time with various proposals including to explore the possibility of increasing their stake in the company,” it added.

AirAsia was responding to recent news reports that its founder and group chief executive officer Tan Sri Tony Fernandes is talking to banks to secure financing to take the airline private.

While his direct stake in AirAsia amounts to 0.06%, Fernandes and executive chairman Datuk Kamarudin Meranun hold 18.99% of AirAsia shares through their ownership of Tune Air Sdn Bhd.

“After having made due enquiries with the board of directors on the [matter], the board has not received any offers to take the company private,” said AirAsia yesterday.

“The company will make the appropriate announcement to Bursa Securities in a timely manner in accordance with the Main Market listing requirements should there be any further official development on this matter otherwise,” it added.

AirAsia said it has also received approaches from investors who are keen on co-investing in its wholly-owned subsidiary, Asia Aviation Capital Ltd (AACL).

“These are parties who are interested in acquiring aircraft to expand their existing portfolio. And since the incorporation of AACL, we have received approaches from investors who are keen on co-investing in AACL as an indirect means of owning the aircraft in our fleet,” it said.

AirAsia shares closed unchanged at RM1.48 yesterday, with a market capitalisation of RM4.12 billion. Year to date, AirAsia’s share price has fallen 46.2% from RM2.75 on Jan 2, underperforming the FBM KLCI’s 4.29% decline.