AirAsia has committed to acquiring 50 additional Airbus A321XLRs as part of a strategy to expand into long-haul markets, including Europe and North America.
AirAsia parent Capital A has identified Saudi Arabia as a “top priority market” for expansion, beginning with new routes from Kuala Lumpur to Riyadh and Dammam.
AirAsia is set to receive $100 million from Saudi Arabia’s Public Investment Fund as the Malaysian LCC seeks to raise as much as MYR1 billion ($226 million).
Malaysian LCC group Capital A plans on cost rationalization and fleet reactivation in 2025, following profitable aviation and non-aviation businesses in 2024.