Source::BreakingTravelNews
Amidst the chaos caused by COVID-19, the budget air-carrier have expected a big rebound in air travel in the upcoming months. Therefore, AirAsia carrier raises 233$ million dollars to provide the necessary means to ramp up operation next year.
A key component of the 233$ million raised is the Right Issue, a fund-raising exercise that included the listing of seven-year redeemable convertible unsecured Islamic debt securities (RCUIDS) and warrants.
For financing the cost, a guaranteed loan was given by Danjamin National Bhd for 120 million USD and their venture BigPay raised about 100 million USD for the fundraising. AirAsia has announced that they are on track with the fundraising, giving them strong liquidity to increase operations next year when they expect the company to be sustainable again.
Tony Fernandes, the AirAsia Group chief executive, has said, "After the most challenging two years in commercial aviation history, the end is finally within reach. We have survived the pandemic. We have restructured, relaunched and are now in a stronger position to recover faster."
