Bidding for AirAsia’s leasing arm in last lap

Grand entrance: Riad sliding down a chute to make an entrance during a news conference at AirAsia headquarters in Sepang. He will take over from Aireen Omar as the new CEO from Jan 10. — Reuters

SEPANG: The bidding for budget carrier AirAsia Bhd’s leasing arm is in its final stages, with group chief executive officer (CEO) Tan Sri Tony Fernandes hoping that the sale can be completed soon.

The sale of the leasing arm is part of the move to streamline the airline’s operations and assets ahead of a reorganisation that will see a holding company, AirAsia Group Bhd, assuming the listing status of AirAsia and including the carrier’s regional associates in Indonesia, the Philippines and Thailand. AirAsia currently holds a 49% stake, respectively, in AirAsia Indonesia, AirAsia Philippines and AirAsia Thailand.