The group will also sell and lease back up to 20 planes to cut debt, says CEO Tony Fernandes
Tue, Jun 16, 2015 - 5:50 AM
Mr Fernandes says that AirAsia is looking to take the loss-making associates in the Philippines and Indonesia public in 2017, seeking valuations of about US$700 million for the Indonesia firm and US$600 million for the Philippine business.
PHOTO: THE STAR
AIRASIA Bhd, Asia's biggest budget airline, plans to raise funds at loss-making associates by issuing up to US$300 million in bonds and may sell planes to help cut group debt, chief executive Tony Fernandes said in a letter to investors.