Tony Fernandes: Good interest from many banks, including US$1bil investment from Middle East
KUALA LUMPUR: Tan Sri Tony Fernandes, the co-founder and advisor of AirAsia Group Bhd, said the group’s financing round of US$1 billion is receiving many interests from banks from the United States (US) and Europe.
Tony Fernandes, co-founder and advisor of AirAsia Group, revealed that several banks from the United States, Europe, and local banks in Malaysia are showing interest in the company's US$1 billion financing round. Additionally, a Middle Eastern bond investor has already provided a signed term sheet for the investment. Despite various reports, Fernandes stated that there has been no change in interest from bankers and investors, as they are well aware of AirAsia Group's robust business and financial situation.
The airline group is raising funds to restructure and refinance its debts amid high jet fuel prices. They plan to consolidate multiple existing facilities into a unified, lower-cost debt structure, allowing them to lower annual interest costs and secure liquidity for strategic working capital. Fernandes emphasized that AirAsia Group has never sought government assistance during its 25 years of operation, even during the worst of the Covid-19 pandemic.
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