AirAsia Creates Offshore Leasing Company

AirAsia has created a leasing subsidiary called Asia Aviation Capital (AAC), which is to be based in Malaysia’s offshore financial hub of Labuan

AirAsia has created a leasing subsidiary called Asia Aviation Capital (AAC), which is to be based in Malaysia’s offshore financial hub of Labuan.

The main goal of AAC is to own and manage aircraft currently leased to Thai AirAsia, Indonesia AirAsia, Zest Airways and AirAsia India, though aircraft owned and operated in Malaysia by AirAsia will fall outside its remit.

The lessor’s principal activities will be: acquiring aircraft and securing financing; providing operating leases to affiliate airlines; managing the portfolio of aircraft including technical services; and the remarketing of leases.

In the summer AirAsia further adjusted its fleet plan for 2014 to a reduction of 19 aircraft, and lowered its delivery schedule for 2015 to 10 aircraft.

TAGS: Asia Pacific
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