AirAsia airplane is seen at the Garuda Maintenance Facility AeroAsia, the aircraft maintenance and repair unit of Indonesian flag carrier PT Garuda Indonesia Tbk, in Tangerang, Indonesia, September 20, 2017. REUTERS/Beawiharta
KUALA LUMPUR: Ground Team Red Sdn Bhd (GTR), a wholly-owned subsidiary of AirAsia Bhd, has entered into a sale and purchase agreement with AirAsia X Bhd
for the sale and transfer of ramp/ground equipment valued at RM4.63mil.
In a filing with Bursa Malaysia on Wednesday, AirAsia said under the same agreement, AirAsia X has also agreed to transfer 424 employees to GTR.
GTR has also entered into two novation agreements, one with TCR Solution Sdn Bhd and AirAsia X, and another with I Tech Engineering and Machinery Sdn Bhd and AirAsia X.
Under the novation agreement with TCR and AurAsia X, TCR will novate to GTR the full service rental agreement dated Sept 1, 2015, between TCR and AirAsia X and the TCR repair and maintenance contract signed on April 13, 2017, between AirAsia X and TCR.
The novation agreement with I Tech and AirAsia X was to novate to GTR the lease and maintenance agreement dated March 21, 2017, between AirAsia X and I Tech, AirAsia said.
“The purpose of the sale and purchase and novation agreements is to facilitate the establishment of GTR through the integration of all AirAsia and AirAsia X’s ground equipment assets.
“This will be facilitated through GTR taking ownership of the ground equipment through these agreement,” it said. - Bernama
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