AirAsia X to raise funds in 2010

Singapore
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AirAsia X plans to raise fresh funds in 2010 as it seeks to finance the purchase of aircraft that it will take delivery of from 2011.

"We need a stronger equity base after 2010 as we have several aircraft being delivered after that," says Azran Osman-Rani, CEO of the Malaysia-based long-haul low-cost carrier. "We have not decided how we will raise the funds, but that will be discussed internally in the coming months."

The airline picked Abu Dhabi has its first destination in the Middle East yesterday, but Azran denied reports out of the United Arab Emirates that AirAsia X was in talks with potential investors from that region. Saudi investment group Manara Consortium already has a 10% stake in the carrier.

"We already have an investor from the region and we are not actively looking for one from there. Of course, if there is new interest, we cannot rule that out. But there is nothing new to report from the Middle East," he says.

According to Flight's ACAS database, Air Asia X operates three Airbus A330-300 and two A340-300 aircraft. It has 23 A330-300s and 10 A350-900 aircraft on order.