AirAsia nails down new CEO to helm leasing unit

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KUALA LUMPUR (July 18): Asia Aviation Capital Ltd has identified a chief executive officer (CEO) and a chief financial officer (CFO) for the wholly-owned leasing unit of AirAsia Bhd.

In a statement today, Asia Aviation Capital principal officer and director Rozman Omar said it has identified a likely CEO officer with decades of experience in the aircraft leasing industry and a CFO, who is knowledgeable about aircraft financing to lead the company into the growth phase.

It is poised to benefit from parent AirAsia's recent deal for 100 Airbus A321neos, with 30% of the order expected to be allocated to the unit.

The aircraft order, valued at US$12.6 billion based on list prices, was announced at the Farnborough Airshow in the UK last week. It is the first order placed by AirAsia for the largest model in the best-selling A320 Family, which can seat up to 240 passengers in a single-class layout.

Rozman said the aircraft will help grow the leasing company as it continues to build its lease portfolio to AirAsia affiliates and third-party airlines.

Asia Aviation Capital currently owns or finances a fleet of more than 55 A320s, primarily leased to AirAsia affiliates outside Malaysia. With the additional 100 A321neos, this will bring its total fleet to 155.

At 2.17 p.m., shares of AirAsia were traded 2 sen or 0.72% higher at RM2.79, with 10.29 million shares done, for a market capitalisation of RM7.76 billion.