Latest news with #CapitalAGroup
New Straits Times
7 days ago
- Business
- New Straits Times
AirAsia talks with investors near conclusion, says deputy CEO
SINGAPORE: Budget airline AirAsia is nearing the conclusion of talks with potential strategic investors as the Malaysia-based airline approaches the end of its restructuring process, deputy group chief executive officer (CEO) Farouk Kamal said on Wednesday. The airline, whose parent company Capital A was classified as financially distressed by Malaysia's stock exchange in 2022, is arranging a RM1 billion (US$235 million) equity injection alongside financing for its extensive order book of new planes, Kamal said, speaking on a panel at the Reuters NEXT Asia summit. Capital A Group CEO Tony Fernandes said in March that the 1 billion ringgit private placement was "done", but has not disclosed the identity of the investors. He declined to comment on a Bloomberg report in March that Saudi Arabia's sovereign wealth fund was set to invest US$100 million. Kamal said AirAsia was coming to the final conclusion of talks with investors "not just from an equity injection perspective, but from an overall transactions perspective", and hopes to make an announcement in "due course". AirAsia, one of Asia's largest low-cost carriers and one of Airbus' largest customers, has around 360 planes on order. On Friday, AirAsia signed a memorandum of understanding with Airbus to buy 50 long-range A321XLR planes with conversion rights for another 20 of the single-aisle jets. Fernandes said last week he hoped to exit the financially distressed status soon, once restructuring efforts are complete. As part of this, Capital A is in the process of selling its AirAsia aviation business to long-haul unit AirAsia X to consolidate long- and short-haul operations under a single AirAsia brand.
CNA
04-07-2025
- Business
- CNA
AirAsia orders 50 Airbus A321XLR planes, with conversion rights for 20 more
SEOUL :AirAsia has signed a deal to buy 50 Airbus long-range A321XLR planes with conversion rights for another 20, as the budget airline nears the end of a restructuring process, Tony Fernandes, CEO of AirAsia owner Capital A Group said on Friday.
CNA
03-07-2025
- Business
- CNA
AirAsia in talks to convert some Airbus orders into long-range jet orders, sources say
PARIS/SEOUL :Budget airline AirAsia is in negotiations with Airbus to convert some existing narrow-body plane orders to the long-range A321XLR model as it sets a path out of restructuring, two industry sources said on Thursday. Tony Fernandes, CEO of AirAsia owner Capital A Group, told Reuters last month he was in talks to buy 50 to 70 of the latest Airbus model within one to three months, but signalled the first priority was to complete the group's financial reorganisation. A deal could come as early as this week when Malaysian Prime Minister Anwar Ibrahim visits Paris, the sources said. A separate source said a deal was not guaranteed. Malaysia-based AirAsia is one of Asia's largest low-cost carriers and one of Airbus' largest customers, with more than 350 planes on order. It has been steadily restructuring its order book as it faced financial difficulties after a slump during COVID-19. Such a deal would not necessarily increase the overall size of AirAsia's outstanding orders with Airbus but would support the industry's longest-range narrow-body jet model, they said. Talks for a potentially large order of smaller A220 planes have taken a backseat for now, they added. Fernandes wants to expand AirAsia's global reach and has said Airbus' long-range models are an important part of that vision. Fernandes said this week he was seeking a hub in the Gulf region. AirAsia is in talks with four locations, including in Saudi Arabia and Ras Al Khaimah, part of the United Arab Emirates, he told Dubai Eye radio. Bloomberg News on Thursday reported that AirAsia could place orders for narrow-body jets during the prime minister's visit but that a deal was not guaranteed.
Khaleej Times
18-06-2025
- Business
- Khaleej Times
Airbus upbeat, but may have to wait for AirAsia deal at Paris air show
The world's biggest air show looked set on Wednesday for a muted finale after the owner of budget carrier AirAsia, often a source of last-minute dealmaking drama, played down the prospect of expected plane deals with Airbus or Embraer. Delegates were already braced for a low-key Paris Airshow after Boeing struck huge deals during U.S. President Donald Trump's recent trip to the Middle East. The U.S. company then scaled back its presence at the show to focus on the probe into last week's deadly crash of an Air India Boeing 787. But European rival Airbus has been steadily racking up business, and underscored its confidence about the future on Wednesday by holding out the prospect of higher dividends. Talk was rife in the chalets that Airbus might seal deals with AirAsia for its A321XLR single-aisle jet and smaller A220 model to put a final gloss on the show. Airline entrepreneur Tony Fernandes, the CEO of AirAsia owner Capital A Group, told Reuters that it was in talks to buy 50 to 70 A321XLR jetliners, and 100 A220s or competing E2 regional jets from Brazil's Embraer. But he played down the prospect of a deal in Paris, saying the first priority was to complete the group's restructuring. "I don't think there'll be an order at this air show. We're still doing a lot of work with Airbus and other (manufacturers) .... I think we'll look to do something imminently, in the next 1-3 months," he said in an interview. Two industry sources said Airbus had made an "aggressive" offer to boost A220 orders and win a launch customer for a new 160-seat version, or kickstart a larger version still on the drawing board. But they added that - barring any further twist in negotiations that could not be ruled out - the talks had stalled, partly over financing. Still, other deals were getting done. Embraer said on Wednesday it had secured an order for 60 of its E175 regional jets from SkyWest Airlines, which also agreed purchase rights for a further 50 of the aircraft. Airbus announced an order for two A350 freighters from logistics company MNG Airlines, and EgyptAir was unveiled as the previously-undisclosed buyer of six A350-900 long-haul jets. Planemakers have been struggling to keep up with demand for new, more fuel-efficient aircraft since the end of pandemic-era travel restrictions, with supply chain problems - particularly with engines - delaying some deliveries. Airbus said on Wednesday, however, that since early 2025 it had experienced 40% fewer disruptions caused by delayed components at its production facilities. On the defence side of the show, U.S. drone maker Anduril and Germany's Rheinmetall said they would partner to build aerial drones for European markets, in a sign of Europe leveraging U.S. technology to boost military capabilities.
CNBC
18-06-2025
- Business
- CNBC
Airbus order discussions progressing and likely to be announced next month: Capital A Group
Tony Fernandes, the CEO of Capital A Group discusses Airbus orders and global market expansion from the Paris Air Show.
