Thai AirAsia has secured much-needed funds from a new investor who will inject about $100 million.
It is part of a restructuring plan tabled by Thai AirAsia parent company Asia Aviation PCL.
Asia Aviation hasn’t named the investor.
Funds will come via an interest-free convertible loan or bond, AirAsia said in a filing.
Once Thai AirAsia gets regulatory approval for an initial public offering (IPO), the investor will convert the loan into shares which will give them a direct stake in the airline.
Malaysia based AirAsia Group currently owns 45% of the Thai airline.
