AirAsia Bhd Group Chief Executive Tony Fernandes has written to investors spooked by a report questioning accounting at Asia's biggest budget airline, saying it will raise funds at loss-making associates and may sell planes to cut group debt.
In a response to AirAsia shares falling to five-year lows, the CEO said the group plans to issue as much as $150 million in convertible bonds at each of its Philippine and Indonesian associates. Fernandes, who has led AirAsia's rise to a billion-dollar business from a two-plane operation in 2002, wrote in his letter that the company may also sell and lease back up to 20 aircraft in the group's fleet this year.
15/06/15 Reuters/dna
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In a response to AirAsia shares falling to five-year lows, the CEO said the group plans to issue as much as $150 million in convertible bonds at each of its Philippine and Indonesian associates. Fernandes, who has led AirAsia's rise to a billion-dollar business from a two-plane operation in 2002, wrote in his letter that the company may also sell and lease back up to 20 aircraft in the group's fleet this year.
15/06/15 Reuters/dna
