AirAsia X stated it is currently in talks with Middle Eastern investors, including institutional investors and sovereign wealth funds, for fresh capital to fund its European and African expansion plans (Reuters, 20-Aug-09). According to CEO, Azran Osman-Rani, the carrier requires a “stronger equity base after 2010”. The carrier plans to expand to destinations that are “unexploited, under-served”, including destinations in Spain, Scandinavia and East and North Africa.
AirAsia X in talks with Middle Eastern investors for new capital
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Malaysia’s AirAsia X is considering the lease of A350s or 777-300ERs in 2017 to accelerate its return to Europe. A new widebody type will add cost and complexity but is necessary if the medium/long haul low cost airline is to meet its objective of relaunching London as soon as possible.
AirAsia X had been planning to wait until it receives A330-900neos before relaunching London and commencing other European routes. However the airline prefers not to wait until 2H2018, when its A330-900neo deliveries are slated to begin, and using another aircraft type in the interim mitigates the impact of a potential delay with the A330neo variant required for Kuala Lumpur-London.
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