Bahrain-based Manara Consortium and Japan-based Orix Corp have taken a total 20% stake in long-haul low-cost carrier AirAsia X for RM250 million. Manara and Orix will each receive 16.7 million newly issued common shares of AirAsia X, or 10% of its equity.
CEO of AirAsia X Azran Osman-Rani said the stake represents an important phase of AirAsia X’s growth plans as proceeds raised will enable the airline to fund aircraft orders already placed with European airplane maker Airbus and for further fleet expansion.
The Manara Consortium comprises four leading Saudi investment groups, which, together with 3i Group sponsored the Manara Infrastructure Fund.