AirAsia is partnering with Silicon Valley accelerator Plug and Play to dig up new talents in travel technology.
KUALA LUMPUR: Shares of AirAsia jumped to a record high of RM4.63 in the afternoon session on Thursday as investors chased the stock in anticipation of dividends from the sale of its aircraft leasing operations for RM4.62bil.
At 2.39pm, it was up 15 sen to RM4.53. There were five million shares done at prices ranging from RM4.51 to RM4.63.
The FBM KLCI was up 5.54 points or 0.3% to 1,861.74. Turnover was 1.97 billion shares valued at RM1.16bil. The broader market was weaker with 627 losers to 274 gainers and 380 counters unchanged.
AirAsia is selling its aircraft leasing operations to BBAM Ltd Partnership for US$1.185bil (RM4.619bil) under its strategy of disposing non-core assets and businesses and focus on its core operations.
Its unit Asia Aviation Capital Ltd's aircraft leasing operations have an enterprise value of US$2.846bil (RM11.096bil).
The low-cost carrier said on Thursday it expects to recognise a gain on sale of about RM967.1mil, which analysts were expecting to return to shareholders in the form of dividends.
Most analysts are upbeat on AirAsia, with KAF Seagroatt & Campbell having a buy with a target price (TP) of RM5.20 while Credit Suisses and Kenanga Research have an outperform with RM5.30 and RM5.25 as the TP.
However, JP Morgan has an underweight with a TP of RM2.90.
