AAX signs one-year aircraft lease agreement at RM31m

AirAsia X Bhd (AAX) has entered into a one-year aircraft lease agreement with Asia Aviation Capital Ltd for an aircraft with serial number MSN1596, at an estimated total value of RM30.54 million. 

Asia Aviation is a wholly-owned subsidiary of AirAsia Bhd, which, in turn, is a subsidiary of Capital A Bhd. 

The leased aircraft has the same cabin configuration as AAX’s existing fleet, ensuring a seamless transition. T

The related party transaction is not expected to have a material financial impact on AAX in the financial year ending December 31, 2023. 

Capital A’s stock remained unchanged at 84 sen, with a valuation of RM3.50 billion. AAX’s shares settled 2.04% lower at RM1.92, with a market capitalisation of RM858.38 million. – TMR