PETALING JAYA: Troubled air cargo carrier Transmile Group Bhd has entered into a used aircraft sale and purchase agreement with Federal Express Corp (FedEx) to dispose of four MD-11F aircraft for RM208.8mil.
Kenanga Investment Bank Bhd
said in an announcement on behalf of Transmile's board that the funds arising from the disposal would be used to partially settle the outstanding debt of the company, which amounted to RM528.9mil as at Sept 30, 2010 due to lenders.
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