Malaysia's Fly Asian Xpress fair value seen at USD300-400 million
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Southeast Asia,
FlyAsiaXpress
(AFX) A study conducted by Credit Suisse Singapore has pegged the fair value of Fly Asian Xpress (FAX) at USD300-400 million, the Edge Weekly reported.
The financial paper said the valuation took into account FAX's business model of high aircraft utilisation, seat density, revenue per kilometre, networks and its fleet expansion plans. This market valuation will facilitate the firm's second round of financing plans for fleet purchases, the report added.
Malaysian aviation entrepreneur Tony Fernandes, founder of Asia's largest budget carrier, AirAsia, also owns a substantial stake in FAX, which is scheduled to commence services in the fourth quarter of the year. FAX will provide budget long-haul services under its affiliate AirAsia X brand.
Date posted: 03-Jul-07
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Malaysia's Fly Asian Xpress fair value seen at USD300-400 million 
