AirAsia X talks with MidEast buyers
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AirAsia X is in talks with Middle Eastern investors, including sovereign wealth funds, to sell an equity stake in the carrier, the Malaysian low-cost carrier’s Chief Executive Officer, Azran Osman-Rani, has said. Speaking at the launch of the airline new route between Kuala Lumpur and Abu Dhabi, Osman-Rani, told reporters that discussions are underway.
“We need a stronger equity base after 2010,” Osman-Rani said. “There has been interest from investors in the Middle East, including institutional investors and sovereign wealth funds.” He declined to specify who the carrier was in talks with, saying only “there are discussions”, and that the stake will be decided next year. Bahrain-based Manara Consortium took a 10% stake in Air Asia X last year.
AirAsia X will serve Abu Dhabi five times a week from November this year, from its Kuala Lumpur base, making the UAE capital the carrier’s eighth global destination. It also plans to make Abu Dhabi a regional hub, connecting to destinations such as Dubai, Makkah and Jeddah, and possibly venturing into Europe and Africa. Osman-Rani identified Spain and Scandinavia as markets which are currently “underexploited”.
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