AirAsia X incorporates subsidiary for aircraft leasing

by TMR

AirAsia X Bhd (AAX) has incorporated its wholly owned unit, AAX Aviation Capital Ltd (AAC), to facilitate the leasing of aircraft.

In a filing to the bourse last Friday, the low-cost long-haul service provider noted that the entity is a private limited company under the Labuan Companies Act 1990, AAX said.

The initial issued and paid-up share capital of AAC is US$1,000 (RM3,910) comprising 1,000 ordinary shares of US$1 each and will be raised accordingly to cater for its operational needs.

AAC has in turn incorporated AAX Leasing One Ltd, under the Labuan Companies Act 1990, to facilitate the leasing of aircraft.

The issued share capital of AAX Leasing One is US$1,000 comprising 1,000 ordinary shares of US$1 each and will be raised accordingly to cater for its operational needs.

The incorporation of both units is not expected to have any immediate effect on the issued and paid-up share capital or substantial shareholders’ shareholding in AAX.