AirAsia Group: Acquisition Of GY Aviation Lease Labuan 1 Limited

Editor -

Pursuant to Paragraph 9.19(23) of the Main Market Listing Requirements (“MMLR”) of Bursa Malaysia Securities Berhad, the Board of Directors of AirAsia wishes to announce that Asia Aviation Capital Limited (“AACL”), a wholly owned subsidiary of the Company, has on 20 December 2018 executed a share sale and purchase agreement with CDB Aviation Lease Finance DAC (“CDB”) for the acquisition of 1,000 ordinary shares, being the entire equity interest of GY Aviation Lease Labuan 1 Limited (“GY Aviation”) for a total purchase consideration of USD1,000.00 (equivalent to RM4186.00*), which shall be satisfied in cash (the “Acquisition”).

Upon Acquisition, GY Aviation will be a wholly-owned subsidiary of AACL and will be renamed as Rouge Aircraft 1 Limited.

The purpose of the Acquisition is for the restructuring of the lease of an Airbus A320-251N aircraft.

CDB is an Irish-incorporated aircraft leasing company owned by a Chinese-incorporated parent, China Development Bank Financial Leasing Co., Ltd which is an entity listed on the Hong Kong stock exchange.

The Acquisition will not have any effect on AirAsia’s share capital and substantial shareholders’ shareholding and is not expected to have any material effect on the earnings per share, net assets per share as well as the gearing in the Company for the financial year ending 31 December 2018.

The Acquisition is not subject to the approval of the shareholders of the Company or any other regulatory authorities.

None of the Directors of the Company, major shareholders and/or persons connected with them have any interest, direct or indirect in the Acquisition.

This announcement is dated 21 December 2018.

  • Based on exchange rate of USD1.00:RM4.1860 published on the Bank Negara Malaysia website on 20 December 2018.