AirAsia proposes RM454mil private placement

KUALA LUMPUR: AirAsia Group Bhd is planning to raise as much as RM454.5mil by selling 668.4 million new shares, as budget airline seeks urgently needed funds to strengthen its financial position.

The fund raising plan would not be sufficient to meet its long-term cash flow requirements, AirAsia said, but as an interim measure to address its immediate cash flow requirements.