20-Aug-2009 10:38 AM

AirAsia X in talks with Middle Eastern investors for new capital

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.