Malaysia’s AirAsia plans air cargo carrier – media
KUALA LUMPUR (Reuters) – Malaysia’s low-cost airline AirAsia Group Bhd is in acquisition talks for air cargo carrier Raya Airways to bolster its logistics business, The Edge Weekly reported on Saturday citing sources.
The business weekly said the airline had approached businessman Ishak Ismail, whose family owns Raya Airways, to acquire the carrier, and was in early conversations, according to people familiar with the matter.
AirAsia and Raya Airways did not immediately respond to requests for comment.
AirAsia’s logistics unit, Teleport, said in November it was aiming to expand its freighter fleet and expand its cargo business.
Raya Airways senior executives were unwilling to sell the carrier as they have plans for an initial public offering, according to the report.
AirAsia was last week classified as a PN17 company by the Malaysian Stock Exchange, a label given to companies in financial difficulty. He said he was working on a plan to “regulate his financial situation”.
Reporting by Liz Lee; Editing by Jacqueline Wong