AirAsia Berhad has announced a deal to sell its Malaysia-based aircraft leasing unit Asia Aviation Capital (AAC) to aircraft investor BBAM for $1.18 billion. The AAC portfolio of 84 aircraft and 14 engines will be acquired by BBAM-managed entities FLY Leasing Ltd., Incline B Aviation Ltd. Partnership, and Nomura Babcock and Brown. Of the total, 79 aircraft and 14 engines will be leased back to AirAsia Group. AirAsia established AAC in 2014, and has mainly used the unit to lease Airbus ...

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