Kamarudin, Fernandes hold 32.3% stake in AirAsia


Interview AirAsia Bhd executive chairman Datuk Kamarudin Meranun. RAYMOND OOI/ The Star Nov 7, 2013.

PETALING JAYA: AirAsia Bhd has completed the issuance of 559 million new shares to Tune Live Sdn Bhd, an investment holding company owned by AirAsia’s executive chairman Datuk Kamarudin Meranun (pic) and group chief executive officer Tony Fernandes.

The group said that cash raised through the share issuance would be utilised for the pre-payment and repayment of borrowings, financing of aircraft, engines and parts, pre-delivery payments of aircraft as well as for general corporate and working capital.

“The shares issuance will result in Kamarudin and Fernandes having a combined shareholding of 32.3% in AirAsia with a subscription value of RM1.01bil,” a statement by the group said.

It further added the utilisation of proceeds is expected to contribute positively to AirAsia’s financial position through a more strengthened balance sheet and increased financing flexibility.

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Business , AirAsia , placement , airline

   

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