SEPANG, 26 January 2017 – AirAsia Berhad today announced the completion of the issuance and allotment of 559.00 million new ordinary shares to Tune Live Sdn Bhd.

Tune Live Sdn Bhd is an investment holding company owned by AirAsia Berhad Executive Chairman Datuk Kamarudin Meranun and AirAsia Group CEO Tony Fernandes.

The shares issuance results in Datuk Kamarudin and Fernandes having a combined shareholding in AirAsia Berhad of approximately 32.3%. With a subscription value of approximately RM1.01 billion, the shares issuance represents their continued commitment to support the growth and requirements of AirAsia Berhad.

The cash raised through the shares issuance will be utilised by AirAsia Berhad for the pre-payment and repayment of borrowings, financing of aircraft, engines and parts, pre-delivery payments of aircraft as well as for general corporate and working capital.

The utilisation of proceeds is expected to contribute positively to AirAsia Berhad’s financial position through a more strengthened balance sheet and increased financing flexibility.

For more details, please refer to AirAsia Berhad’s Bursa Malaysia announcement dated 26 January 2017.