Monday, August 24, 2009

Air Asia X talks with Mideast buyers for stake sale-CEO

19 August 2009

ABU DHABI - AirAsia's (AIRA.KL) long-haul, low-cost unit is in talks with Middle Eastern investors, including sovereign wealth funds, to sell an equity stake in the carrier, Air Asia X head Azran Osman-Rani said on Wednesday.

"We need a stronger equity base after 2010," Osman-Rani told reporters, as the airline launched direct flights from Kuala Lumpur to the United Arab Emirates' capital, Abu Dhabi.

"There has been interest from investors in the Middle East, including institutional investors and sovereign wealth funds."

He declined to specify who the carrier was in talks with, saying only "there are discussions."

The stake amount will be decided next year, he said.

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