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Rafidah: Up to Khazanah to purchase 10 pct stake in AirAsia X

Posted on September 20, 2011, Tuesday

KUALA LUMPUR: It is all up to Khazanah Nasional Bhd whether to buy the 10 per cent stake in AirAsia X Sdn Bhd, said AirAsia X chairman, Tan Sri Rafidah Aziz.

“It is up to them, it is their decision. They know our record, they know our future strategy, and they know where we are going,” said Rafidah to reporters on the sidelines of the World Women Economic Forum here yesterday.

“I think they should base (the decision) on whatever the evaluation done by the analyst.”

She was asked on Khazanah’s stand saying that it would acquire the 10 per cent share in AirAsia X only after getting more clarity not only on the financial and business model of the company but would also look at the timing.

In August this year, Khazanah proposed to acquire 10 per cent of shares in AirAsia X on “terms and at a price to be mutually agreed later.”

The proposal came following the signing of a collaboration agreement between Malaysia Airlines (MAS), AirAsia and AirAsia X.

The outcome of the agreement will see Khazanah remaining the single largest and major shareholder of MAS with a 10 per cent stake in AirAsia.

It will also see MAS focusing on being a full-service premium carrier, while AirAsia will be a regional low-cost carrier (LCC) and AirAsia X, a medium-to-long-haul LCC. — Bernama

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