Air Asia’s proposed $1bn data sale passes scrutiny | News | Airfinance Journal

Air Asia’s proposed $1bn data sale passes scrutiny

The Malaysian personal data protection agency sees no obstacles to the proposed $1 billion data sale from Air Asia Group to an American lender.

“The department is satisfied with AirAsia’s explanation on the transaction,” it said in a statement on 14 October. However, it added that any sales involving personal data are an offence and as such would be not permissible.

Earlier this month, Air Asia co-founder and chief executive Tony Fernandes said an American firm was willing to loan $1 billion for the digital assets the group had accumulated over the past two decades.

Yesterday, Malaysia's finance ministry said that it had "not approved any government financing or guarantee to any airline".

This followed a report that claimed the Malaysian government had approved a MYR1 billion ($242 million) loan to Air Asia to weather the ongoing Covid-19 crisis.

Air Asia had previously said that it needed to raise at least MYR2 billion in the next six months to be in a “very comfortable” position.

Last week Airfinance Journal reported that Air Asia was seeking to return 65 Airbus A330 and A320 aircraft to their leasing companies through the end of next year, and that the group was also seeking to reduce its backlog with Airbus, which numbers 363 A320neo-family aircraft, according to Airfinance Journal's Fleet Tracker.

Transaction SnapshotAirAsia | Bond issuance | 07-19 | TWD500m

Financial Close:
$16.03m USD
Full Details

Transaction SnapshotAirAsia India | Operating lease | 08-20 | 5xA320neo

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