AirAsia boss declares rgt 1 billion in loans pending regulatory approval – press report

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KUALA LUMPUR, March 27 (Reuters)AirAsia Group Bhd AIRA.KL plans to secure 1 billion ringgit ($ 241.28 million) in loans from three Malaysian banks, pending approval from local regulators, group chief executive Tony Fernandes said in a report by The Edge Malaysia.

The low-cost airline said last week it had raised $ 82 million through private placements of shares, with the aim of securing liquidity in 2021.

Fernandes said the airline expects to have a “clear line of sight” by June on the amount of funding it can raise, which it estimates to be between 2 and 2.5 billion ringgits.

“What I am confirming, moreover, is that the banks approved part of the billion ringgit but Danajamin did not approve it,” Fernandes said in an interview with The Edge, referring to the insurer. government financial guarantee.

He did not identify the three local banks involved.

Fernandes said they are also considering a loan offer from the Thai government through its Exim Bank, in addition to raising up to RM1 billion through rights issues.

“In the worst case scenario, we have enough cash to last until 2023,” Fernandes said.

($ 1 = 4.1445 ringgit)

(Reporting by Joseph Sipalan; Editing by Michael Perry)

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