Manufacturing Industry
AirAsia in advanced negotiations over fleet expansion
Airline Industry Information, Nov 12, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
Malaysian low-cost carrier AirAsia has said that it is in the advanced stages of negotiations to secure up to 80 new aircraft and that a deal may be completed by December 2004.
AirAsia's CEO Tony Fernandes said that the airline was currently considering a deal involving 40 new aircraft and options on 40 more from both US aircraft manufacturer Boeing and European manufacturer Airbus. Fernandes added that if the airline decided to shift its focus away from the Boeing 737-300 aircraft that makes up the majority of its current fleet the new aircraft could start arriving as early as January 2006.
The airline is set to be listed on the Main Board of Bursa Malaysia by the end of November 2004 and the IPO will in part will fund the acquisition of the new aircraft. Fernandes said that purchasing the new aircraft would benefit shareholders by saving the airline money on fuel, giving it a higher capacity and lowering maintenance costs, reports Bernama.
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