AirAsia X in talks to take Yen loans

Singapore
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AirAsia X is in talks with Japanese financial institutions to access yen-denominated loans for the financing of its incoming aircraft.

A spokeswoman for the airline confirms that it is seeking yen financing "as we now have enough receivables in Yen to service these loans."

The long-haul low-cost carrier has been growing its presence in the Japanese market and flies daily services between Kuala Lumpur and Tokyo Haneda airport. It also flies four times a week to Osaka-Kansai, which will rise to daily from late November.

The company spokeswoman adds that the loans would be used to finance new aircraft that the airline is taking delivery, but could not disclose the amount it was seeking.

Flightglobal's Ascend Online Fleets database shows that AirAsia X has a fleet of 14 Airbus A330s in service with a further 15 on order. It also has 10 A350-900s on order, which will commence deliveries in 2018.

The airline also recently agreed to lease an A330-200 that it will operate on behalf of Saudi Arabian Airlines. AirAsia X also wet-leases two A340-300s to the Saudi flag-carrier.

AirAsia X listed on the Bursa Malaysia stock exchange in July after raising M$741 million ($223 million) in an initial public offering.