Fernandes, Kamarudin to fork out RM1bil cash

Long-time partners: AirAsia says it will issue 559 million new shares in a share placement exercise at RM1.80 a share to Tune Life, owned equally by both Kamarudin (left) and Fernandes.

AirAsia to place out shares, market talk on privatisation quashed

PETALING JAYA: Tan Sri Tony Fernandes and his long time partner, Datuk Kamarudin Meranun are forking out RM1.006bil cash to shore up AirAsia Bhd’s balance sheets, something investors have been urging them to do for sometime now.