Malaysia’s flagship budget airline AirAsia Group is in early acquisition discussions for air cargo carrier Raya Airways to beef up its logistics business, The Edge Weekly reported on Saturday citing sources.
The business weekly said the airline has approached businessman Ishak Ismail whose family owns Raya Airways, to acquire the carrier, and are in early conversations, according to people familiar with the matter.
→ Qatar Airways and Airbus A350 defects hearing to be held in April.
AirAsia’s logistics unit Teleport said in November it was aiming to expand its fleet of cargo planes and scale up its freight business.
Top executives at Raya Airways were not keen to sell the carrier, however, as they have plans for an initial public offering, the report said.
AirAsia was last week classified as a PN17 firm by Malaysia’s stock exchange, a tag given to financially distressed firms. It said it was working on a plan to “regularise its financial condition”.
Related Topics
LATAM Airlines Strengthens Regional Leadership with Five Honors at the 2026 World Travel Awards
LATAM Airlines Brazil Takes Delivery of Its First Embraer E195-E2
LATAM Airlines Announces Nonstop Flights Between Santiago de Chile and Caracas Starting in January
Four Years into Their Joint Venture: LATAM and Delta Increase Capacity by 31% and Surpass 17 Million Passengers Between South and North America
Plataforma Informativa de Aviación Comercial con 13 años de trayectoria.