AirAsia X incorporates an aircraft leasing subsidiary

AirAsia X Bhd has incorporated its wholly owned unit, AAX Aviation Capital Ltd, a private limited company used to facilitate the leasing of aircraft.

AAC has in turn incorporated AAX Leasing One Ltd, to facilitate the leasing of aircraft.

Both companies have an initial issued and paid-up share capital of US$1,000, which will be raised accordingly to meet its operational needs.

Neither incorporation is expected to have any immediate effect on the issued and paid-up share capital or substantial shareholders’ shareholding in AirAsia X.