Transportation
Saudi Fund Set to Invest in AirAsia, Boosting Ties to Region
- PIF would contribute about $100 million to $226 million round
- Malaysian airline’s talks include Japan, Singapore investors
AirAsia is seeking funds to reboot its growth ambitions.
Photographer: KG Krishnan/BloombergThis article is for subscribers only.
Saudi Arabia’s sovereign wealth fund is poised to invest about $100 million in Malaysian carrier group AirAsia, according to people familiar with the matter, strengthening the Gulf kingdom’s ties with a region that’s a major source of tourism. Shares gained.
The Public Investment Fund would play the single biggest role in an AirAsia fundraising targeted at around 1 billion ringgit ($226 million), said the people, who asked not to be named with discussions ongoing. The Malaysian airline group is in talks with other prospective investors, including from Singapore and Japan, the people added.