AirAsia has received an offer of US$1 billion (RM4.1 billion) for its aircraft leasing business, Asia Aviation Capital (AAC), confirming previous speculations that the firm was looking to monetise is assets.
AAC, which is wholly-owned by AirAsia, has 43 aircraft in its stable, most of them are leased out to units within the group, but leasing to third parties is a growth area. The firm has recently made its first lease outside the group to Pakistan International Airlines.
Previously, group chief executive office Tan Sri Tony Fernandes said that he would consider divesting a 30 percent to 40 percent stake in AAC to a strategic partner but has now said he is open to a complete sale of the unit in the long term.
With a valuation of approximately US$1.6 billion, the US$1 billion offer values the rest of the airline at US$600 million, which Fernandes opines is really low given its earnings.
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AAC, which is wholly-owned by AirAsia, has 43 aircraft in its stable, most of them are leased out to units within the group, but leasing to third parties is a growth area. The firm has recently made its first lease outside the group to Pakistan International Airlines.
Previously, group chief executive office Tan Sri Tony Fernandes said that he would consider divesting a 30 percent to 40 percent stake in AAC to a strategic partner but has now said he is open to a complete sale of the unit in the long term.
With a valuation of approximately US$1.6 billion, the US$1 billion offer values the rest of the airline at US$600 million, which Fernandes opines is really low given its earnings.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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