Tuesday, July 7, 2009

AirAsia seeks shareholders’ approval

07 July 2009

PETALING JAYA: AirAsia Bhd is seeking shareholders’ approval and ratification for the provision of financial assistance to its Indonesian and Thai subsidiaries.

It told Bursa Malaysia yesterday that the ratification was for the provision of RM355mil and RM248mil to PT Indonesia AirAsia (IAA) and Thai AirAsia Co Ltd (TAA) respectively.

Both companies are 49% owned by AirAsia.

As at Dec 31, 2008, IAA and TAA owed RM974mil and RM457mil to AirAsia respectively, while the amount owed by AirAsia to IAA and TAA was RM619mil and RM209mil respectively.

AirAsia also said it was proposing to enter into financial assistance agreements with IAA and TAA to formalise the provision of financial assistance to IAA and TAA, as provided by the total net amount owing to AirAsia.

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