Wed, July 8, 2009 : Last updated 22:55 hours
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AirAsia to provide more financial assistance to Thai AirAsia
AirAsia Bhd is seeking shareholders' approval and ratification for the provision of financial assistance to its Indonesian and Thai subsidiaries. It plans to provide 248 million ringgit to Thai AirAsia, which is 49 per cent owned by the Malaysian company.
As at Dec 31, 2008, Thai AirAsia owed 457 million to AirAsia while the amount owed by AirAsia to Thai AirAsia was 209 million.
AirAsia also said it was proposing to enter into financial assistance agreements with Thai AirAsia to formalise the provision of financial assistance to the subsidiarym as provided by the total net amount owing to AirAsia.
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