Thai AirAsia parent Asia Aviation plans to raise more than $500 million to revive the cash-strapped airline.
Asia Aviation will sell THB8.8 billion of shares to AirAsia Group through a private placement, it said in a filing. Asia Aviation also hopes to raise an extra THB3.9 billion from loans, as well as a rights offering and sale of convertible bonds.
The LCC hopes to revitalise the business and fund a meaningful return to service as Thailand readies to reopen its borders fully for travellers from select countries.
