Malaysia-based long-haul, low-cost carrier (LCC) AirAsia will issue 559 million new shares, which will be taken by holdings of original airline founders Tony Fernandes and Kamaruddin Meranun. The airline said the new issue will see shares worth 1 billion ringgit ($259 million) placed with Tune Life Sdn Bhd, a mixed-portfolio holding company owned by Fernandes and Kamarudin. This would mean the two would raise their overall stake in the airline from 18.9% to 32.4%. The share sale comes ...

Subscribe to Access this Entire Article

"AirAsia issues new shares to cut debt, service costs " is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.

Already registered? here.