AirAsia planning sale and leaseback of 11 aircraft; not currently seeking to raise equity

AirAsia Group CEO Tony Fernandes, via his official Twitter account, said (19-Mar-2015) the airline plans to enter sale and leaseback agreements for 11 aircraft. The agreements will deliver gross proceeds of USD271 million and a cash profit of USD45 million. Mr Fernandes described the transaction as a "good piece of business" and said, "There is some blessing in weaker currencey [sic]. Our ownership of aircraft now paying off". Mr Fernandes said the airline will sell 150 aircraft worth at least USD2 billion. He also said the company is not currently looking to raise equity. Mr Fernandes said the company's cash position is very strong and its share price is the "most undervalued" of all mature airlines.