AirAsia X Sdn Bhd will put off a US$200 million Islamic bond issue planned for March by at least 12 months after the airline abandoned routes from Kuala Lumpur to London, Paris, Mumbai and New Delhi.
The long-haul low-cost carrier, part-owned by Asia’s largest budget carrier AirAsia Bhd, would put off the issue from until 2013, chief executive officer Azran Osman Rani said at an event today in Sydney. The funds were originally intended to purchase two planes flying the London and Paris routes.
“We are putting that particular bond issuance on the slow burner,” he said. “We do have planes that will be delivered in 2013 so we may simply shift the facilities to 2013 when we take delivery.”
AirAsia X announced Jan. 12 that it was cutting its flights to Europe, citing the cost of complying with the European Union’s emissions trading system and rising taxes. -- Bloomberg
The long-haul low-cost carrier, part-owned by Asia’s largest budget carrier AirAsia Bhd, would put off the issue from until 2013, chief executive officer Azran Osman Rani said at an event today in Sydney. The funds were originally intended to purchase two planes flying the London and Paris routes.
“We are putting that particular bond issuance on the slow burner,” he said. “We do have planes that will be delivered in 2013 so we may simply shift the facilities to 2013 when we take delivery.”
AirAsia X announced Jan. 12 that it was cutting its flights to Europe, citing the cost of complying with the European Union’s emissions trading system and rising taxes. -- Bloomberg
