AirAsia Parent Company Seeks to Raise More Than $1 Billion in Debt, Equity
Skift Take
The goal is a venture that expands the AirAsia brand to enterprises seeking to launch airline franchises in emerging nations.
Capital A Berhad, the parent of AirAsia, is planning to raise more than $1 billion in debt and equity, and will list some of its businesses through a blank-cheque company, the Financial Times reported on Wednesday.
Capital A CEO Tony Fernandes has agreed to a deal with Aetherium Acquisition, a special purpose acquisition company, and plans to list several businesses through it next year, the FT reported, citing two people familiar with the deal.
This includes a new business extending the AirAsia brand to companies hoping to start airline franchises in developing countries, the report said.
The group has been evaluating fundraising options for a planned U.S. listing after it was hit by pandemic travel restrictions in Asia, leading Bursa Malaysia Securities to classify it as a PN17 company, or financially distressed, last year.
The potential fundraising also includes a $150 million loan from Bangkok Bank this month, FT said.
Capital A and Aetherium Acquisition did not immediately respond to Reuters’ requests for comment.
(Reporting by Nilutpal Timsina in Bengaluru; Editing by Muralikumar Anantharaman)
This article was from Reuters and was legally licensed through the DiveMarketplace by Industry Dive. Please direct all licensing questions to [email protected].
Go to Source...