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Malaysia's AirAsia Group Expects Fundraising Clarity Next Month, Eyes Recovery By 2023

Economy Policy Aviation

AirAsia has raised 250 million ringgit from the first tranche of a recent private placement of up to 20% of its total issued shares, that was completed last week.

Tata Sons Expected To Submit Initial Bid For State-Run Carrier Air India

BW Online Bureau

Companies & Markets Sector Reports

Tata already operates two airlines in India - full-service carrier Vistara, which is in partnership with Singapore Airlines, and budget airline AirAsia India along with Malaysia's AirAsia Group.

AirAsia X To Revise $15.3 Billion Debt Reform Plan To Expedite Talks With Creditors

BW Online Bureau

Economy Policy Aviation

The budget carrier is seeking to reconstitute the $15.3 billion of unsecured debt into a principal amount of 200 million ringgit ($48 million) and have the rest waived.

Malaysia's Airasia Looks To Lay Off Staff - Bernama

BW Online Bureau

Economy Policy Aviation

AirAsia Malaysia's layoffs would be completed by the end of this month, while affected AirAsia X staff will be leaving end of October.

Malaysia's AirAsia X seeks creditor help as losses deepen

BW Online Bureau

Economy Policy Aviation

Revenue tumbled 91% to 91.4 million ringgit, it said in a bourse filing, as air travel was almost brought to a halt by restrictions to control the COVID-19 pandemic.

Malaysia's AirAsia Suffers Second-Quarter Loss As Revenue Falls

BW Online Bureau

Economy Policy Aviation

AirAsia has applied for bank loans in its operating markets and has been presented with proposals from investment bankers, lenders and potential investors to raise capital.

Malaysia's Airasia In Talks To Secure Funding Of Over $230 Million

BW Online Bureau

Economy Policy Aviation

Equities research firm CGS-CIMB said AirAsia would need 3 billion ringgit in new funding to maintain a healthy cash position, adding capital-raising efforts could result in shareholder dilution

Malaysia's AirAsia Sees 2020 Capacity At 45-60% Of 2019 Levels On Virus Hit

BW Online Bureau

Economy Policy Aviation

AirAsia posted a loss of 803.3 million ringgit ($187.91 million) for the quarter ended March, from 96.1 million ringgit net profit in the year-ago period.

Malaysia's AirAsia Founders Not Taking Salary; Staff Accepts Up To 75% Pay Cut

BW Online Bureau

Economy Policy Aviation

AirAsia has suspended most of its flights since March and its long-haul arm, AirAsia X Bhd, parked most of its aircraft at its Kuala Lumpur hub until May 31.

GSV Bids $2.5 Billion For Malaysia Airlines, Says Funded By European Bank

BW Online Bureau

Economy Policy Aviation

GSV has submitted its proposal to Morgan Stanley which has been hired by the aviation group’s sole owner, sovereign wealth fund Khazanah Nasional Bhd.

Firm Plans $2.5 Billion Capital Boost In Malaysia Airlines Takeover Bid

BW Online Bureau

Economy Policy Aviation

Malaysian sovereign wealth fund Khazanah Nasional Bhd took MAS private in 2014, spending 1.4 billion ringgit for the 30% of the company it did not already own.

Malaysia's Airasia X Defers A330neo Deliveries As Coronavirus Crimps Demand

BW Online Bureau

Economy Policy Aviation

AirAsia X shares fell by 5% on Friday to a record low after it posted a net loss of 95.8 million ringgit ($22.62 million), worsening from an 88.1 million ringgit loss a year ago.

Air France-KLM Proposes Buying 49% Of Malaysia Airlines, JAL Seeks Smaller Stake: Sources

BW Online Bureau

Economy Policy Aviation

Domestic carrier AirAsia Group Bhd and Malindo Air, the Malaysian arm of Indonesia's Lion Air, have also submitted proposals, the sources said.

Malaysia Airlines Suspends Boeing 737 MAX Jet Deliveries Due To Grounding

BW Online Bureau

Economy Policy Aviation

The decision represents another setback for Boeing, which on Tuesday reported its worst annual net orders in decades, along with its lowest number of plane deliveries in 11 years.