AirAsia gets proceeds of RM240mil


In a filing with Bursa Malaysia yesterday, AirAsia said the proceeds came from its 10.94% stake in Fly Leasing prior to the merger.

KUALA LUMPUR: AirAsia Group Bhd has received gross proceeds amounting to US$56.83mil (RM239.98mil) following the merger of Fly Leasing with Carlyle Aviation Elevate Subsidiary Ltd.

In a filing with Bursa Malaysia yesterday, AirAsia said the proceeds came from its 10.94% stake in Fly Leasing prior to the merger.

The Fly Leasing shares were acquired by AirAsia on Aug 30, 2018 as part of the US$50mil (RM210.85mil) cash-in-kind consideration for the earlier divestment of its aircraft leasing operations undertaken by Asia Aviation Capital Ltd to entities managed by BBAM Ltd Partnership.

The estimated gain realised by the group from the stake is approximately RM48.25mil based on its cost of investment of RM191.72mil.

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