Cash-strapped AirAsia takes unusual step of unloading new planes

Malaysian low-cost carrier AirAsia has sold six newly-delivered Airbus A321neo aircraft since the start of last year, marking an unusual move amid financial difficulties. The airline, which received 10 brand-new aircraft since January 2025, recently disposed of half a dozen planes to lessor BBAM LLC, Bloomberg News reported based on data from the Cirium Fleet Analyser database.

The newly acquired jets, which are fuel-efficient, have since been purchased or leased by Vietnamese startup Sun PhuQuoc Airways. This decision to sell planes without entering service is uncommon, as airlines typically utilize sale-and-leaseback deals to manage upfront costs. AirAsia's co-founder, Tony Fernandes, aims to modernise the fleet to counter higher fuel costs.

Analyst Andrew Light noted that selling a newly delivered aircraft without a leaseback is a cleaner option to maximize cash. Rising fuel prices, exacerbated by the Middle East war, have put pressure on AirAsia, leaving the airline exposed as it cannot pass on costs to passengers. AirAsia's fuel expenses surged 58 percent in the second quarter, leading to the company's largest quarterly loss in four years.

The airline currently has RM954 million in cash and equivalents, among the lowest balances among tracked airlines globally.