Asia’s biggest low cost airline, AirAsia, is exploring the sale of its aircraft leasing business as the highly-leveraged carrier moves to reduce its gearing and shift to an asset-light business model.
In a statement to Bursa Malaysia, Kuala Lumpur-headquartered AirAsia confirmed recent market speculation about the sale of Asia Aviation Capital AAC, confirming it was carrying out a strategic review of the aircraft leasing unit that would include divestment of a substantial portion of its interest in it.
Analysts said the potential sale of AAC could raise around RM4 billion $1 billion, equivalent to nearly half of AirAsia's current...
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