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AirAsia to sell plane-leasing ops for US$1.2b

The move comes as part of the budget carrier's strategy of disposing of its non-core assets and businesses, says Group CEO Tony Fernandes

"Today's sale is much in line with our stated strategy of disposing non-core assets and businesses, an undertaking which we have successfully executed over the last six months - starting with our training centre, ground-handling unit and now, our leasing unit." - AirAsia Group CEO Tony Fernandes (above)

Kuala Lumpur/Singapore

AIRASIA Bhd is selling up to 182 Airbus jets to firms managed by BBAM Ltd, one of the world's largest aircraft portfolio managers, in a US$1.2 billion deal that will help it cut debt and give it firepower to expand further.

With the sale of its leasing...