Capital A Raises $443 Million

Capital A (formerly AirAsia Group) has raised $443 million through revenue bonds.

Of this, $200 million was underwritten by Ares Management and Indies Capital Partners, to be utilized for the reactivation of non-operational aircraft. The remaining amount was taken by aircraft leasing companies to refinance existing lease obligations. The plan is to reactivate 10 aircraft in October and 15 aircraft by the year 2025.

CEO Tony Fernandes stated, “Securing this $443 million in revenue bonds is a groundbreaking progression. It is a testament to the strong trust that investors have in our vision and future. We are approaching our goal of recovering from the pandemic. Documents for an extraordinary general meeting regarding the sale of our aviation business have been submitted to the Malaysia Securities Exchange, and we are currently awaiting their review and approval. Subsequently, Capital A will aim to be lifted from the PN17 designation (notice of caution) and submit a normalization plan for management, once we obtain necessary approvals from regulatory authorities. The past five years have been the most challenging, but we anticipate providing sufficient rewards to our shareholders moving forward.”