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AirAsia X CEO Azran to leave

Friday, January 30, 2015 - 18:58

[KUALA LUMPUR] AirAsia X Bhd, the long-haul arm of the region's biggest budget carrier, said Chief Executive Officer Azran Osman-Rani will leave the company and named Benyamin Ismail as his successor.

AirAsia X also named Kamarudin Meranun as the Group CEO overseeing the affiliates in Thailand, Indonesia and Malaysia, the Kuala Lumpur-based airline said in stock exchange filings today. When contacted, Mr Azran said he plans to take a break and declined to comment further.

The budget carrier also announced plans to raise RM395 million (US$109 million) by selling new shares to repay its debt and for working capital.

AirAsia X ordered 55 Airbus Group NV A330neo planes valued at US$15.2 billion based on list prices Dec 15. The airline reduced its contract for A330ceos to 10 from 25.

The airline had posted a loss of RM210.9 million in the third quarter, compared with a profit of RM26.4 million a year earlier. Sales rose to RM698.8 million.

BLOOMBERG

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