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Fernandes: Aircraft disposal allows AirAsia to focus on digital business | Malay Mail

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Fernandes: Aircraft disposal allows AirAsia to focus on digital business

17 April 2019

KUALA LUMPUR, April 17 — AirAsia Group Bhd’s decision to sell 25 of its aircraft to US-based global private investment firm Castlelake LP, is part of the group’s plan to focus on its digital business. He added the disposal also allows the carrier to give cash returns to shareholders and invest in its new digital business.

“I value companies on cash generation, and even with that standard, if you use profit and loss for analysis, the impact of the MFRS 16 is about RM35 million a year. Not very material,” he tweeted during the group’s extraordinary general meeting here today.

 

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