AirAsia active, jumps 13% on emergence of new substantial shareholder

KUALA LUMPUR: Shares in AirAsia Group Bhd jumped over 13% in active trade this morning following the emergence of Stanley Choi Chiu Fai as a new substantial shareholder in the carrier.

The long haul budget carrier rose 13.5%, or 11 sen to 92.5 sen with 67 million shares traded.

AirAsia X Bhd jumped 25%, or two sen to 10 sen. It is currently the second most actively traded counter with 160 million shares exchanged hands.

Choi has emerged as a substantial shareholder of AirAsia after he pumped in RM114.46mil to take up the low-cost carrier's private placement.

The private placement is part of AirAsia Group's massive fundraising exercise, which aims to raise RM1.4bil to RM1.5bil worth of equity via private placement and rights issue. In addition, it intends to borrow RM1bil.

AirAsia said Choi, through his private vehicle Positive Bloom Ltd, acquired 167.1 million, or a 4.17% stake, on Feb 18, raising his shareholding in the airline to 332.5 million shares or an 8.96% stake.

Meanwhile, AirAsia is optimistic about global travel resuming amid the vaccine rollout in Malaysia, including in some of its key markets.

Group chief executive officer Tan Sri Tony Fernandes said the nationwide Covid-19 vaccine rollout starting this week is the first key indicator of a global travel reboot in the near future.

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AirAsia , AirAsia X , Stanley Choi Chiu Fai


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