Malaysia's AirAsia says still in talks to take stake in Fly Asian Express

Tags :Commercial Agreements, AirAsia


KUALA LUMPUR (XFN-ASIA) - AirAsia Bhd said it is still in discussions with Fly Asian Express Sdn Bhd regarding a possible investment in the latter.

"Discussions regarding the appropriate form, timing and amount of investment by AirAsia are ongoing," it said in a filing to Bursa Malaysia.

It said if discussions proceed smoothly, the parties expect the relevant agreements to be ready for approvals and execution within six months of the signing of a memorandum of understanding.

Fly Asian Express has invited AirAsia to take a 20 pct stake in the company via a capital injection, with an option, exercisable within 5 years, to increase its shareholding to a maximum of 30 pct.

Date posted: 12-Apr-07

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