AirAsia sells aircraft portfolio for $1.18 billion
The sale gives Asia Aviation Capital, a wholly owned subsidiary of AirAsia Berhad, an enterprise value of $2.85 billion, AirAsia said in a statement.
Fly Leasing, Incline B Aviation Partnership and Nomura Babcock and Brown will acquire a portfolio of 84 aircraft and 14 engines of which 79 Aircraft and 14 engines will be leased back to AirAsia and its affiliates.
AirAsia is expected to recognise a gain of approximately 967.1 million ringgit ($246 million) as a result of the leasing unit disposal, the statement said. ■