Thai AirAsia parent seeks to raise US$540m in fresh capital

Asia Aviation Chief Executive Officer Santisuk Klongchaiya said the fresh funds should allow the airline to increase flights amid an expected recovery in tourism and travel.

BANGKOK: Asia Aviation Pcl, the operator of Thailand’s biggest budget carrier Thai AirAsia Co., plans to raise as much as 17.9 billion baht ($535 million) from new loans, share sales and convertible-debt offerings as it attempts to restock coffers depleted by the worst crisis in aviation history.

A revised financial restructuring plan for the company has been put forward and Asia Aviation is consulting with new investors, shareholders and creditors, Asia Aviation said in an exchange filing late Tuesday.