New investor agrees to inject up to $100mln into AirAsia’s Thai unit.
A unnamed investor has agreed to inject up to 3.15 billion baht($100.41 million) into the Thai unit of AirAsia Group as part of a restructuring plan proposed by parent company Asia Aviation PCL , a Tuesday filing said.
The investor will provide the amount via an interest-free convertible loan or bond, an Asia Aviation filing posted by AirAsia on the Kuala Lumpur Stock Exchange showed, Reuters reported.
See also: Emirates will resume A380 operations to U.S from June.
Asia Aviation said it had not been able to mitigate the effects of the COVID-19 pandemic, and did not consider the situation to be returning to normal.
In order to continue its operation “steadily and effectively”, it had contacted an investor at the beginning of year to seek support in increasing the company’s short-, medium- and long-term liquidity, the filing said.
Photo: Andy Mitchell/Wikimedia
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