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.
AirAsia parent Capital A is optimistic on short-term growth and profitability in its aviation portfolio as it prepares for the arrival of new aircraft.
AirAsia parent Capital A has raised nearly half a billion dollars to finance aircraft leasing and continue its efforts to bring aircraft out of storage.
AirAsia has recorded its highest-ever quarterly performance and expects to increase its fleet to more than 200 operational aircraft by the end of 2024.