Malaysia's AirAsia says not planning rights issue

Tags :Southeast Asia, AirAsia


KUALA LUMPUR (XFN-ASIA) - AirAsia Bhd said it has no immediate plans to raise funds via a rights issue as its current business model does not warrant such a move.

The budget carrier said in reply to a query from Bursa Malaysia that it has recently received a number of unsolicited propositions from local and foreign investment bankers on fund-raising possibilities.

These proposals are not meant for the recently announced purchase of new aircraft, but to address "any existing and potential concerns ... over (its) current and future gearing ratio."

The company's net cash inflow remains healthy and should help part finance later aircraft acquisitions, it added.

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