AirAsia to sell more stakes in non-flying businesses to fund dividends

(Oct 31): AirAsia Bhd on Tuesday said it plans to sell more stakes in non-flying businesses to fund special dividends to shareholders, after announcing a new ground handling joint venture (JV) with Singapore's SATS.

See: SATS partners AirAsia to grow ground handling business across Asean

The low-cost carrier, which expects $119.3 million in proceeds from the SATS deal, is close to selling some or all of its aircraft leasing arm and its remaining 25% stake in a travel booking joint venture with Expedia Inc, its founder and Group CEO Tony Fernandes said.

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