Capital A looks to raise US$400mil equity from aviation business merger, group chief says

Capital A chief executive officer Tan Sri Tony Fernandes

KUALA LUMPUR: Malaysia's Capital A Berhad, parent of budget airline AirAsia, is looking to raise up to $400 million in equity from a planned merger of its aviation business, which it hopes to complete by July, its top official said on Monday.

Group chief executive Tan Sri Tony Fernandes in an interview said that would be on top of a $200 million bond-raising the company is hoping to conduct in the next few weeks, as it awaits regulator and shareholder approval to complete the sale of its aviation business to long-haul unit AirAsia X Bhd.