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Tag: raya airways

  • Malaysia’s Raya Airways denies acquisition talks with AirAsia

    Malaysia’s Raya Airways denies acquisition talks with AirAsia

    Malaysian air cargo carrier Raya Airways has denied being in talks with budget airline AirAsia Group Bhd for an acquisition, it said in a statement on Monday (Jan 24).

    The company said the news reported over the weekend about ongoing talks was factually incorrect.

    The weekly reported that the airline has approached businessman Ishak Ismail whose family owns Raya Airways, to acquire the carrier, and are in early conversations.

    “After consulting with Raya’s shareholders and Board of Directors, we would like to clarify that Raya and its subsidiaries/affiliate companies are not in any talks with AirAsia Group Berhad or any other parties for the acquisition of the Company or any part of its businesses,” it said.

    The carrier said its operational and financial position is strengthening and it is committed to the next stage of growth.

  • Malaysia’s AirAsia eyes air cargo carrier

    Malaysia’s AirAsia eyes air cargo carrier

    Malaysia’s flagship budget airline AirAsia Group is in early acquisition discussions for air cargo carrier Raya Airways to beef up its logistics business, The Edge Weekly reported on Saturday (Jan 22) citing sources.

    The business weekly said the airline has approached businessman Ishak Ismail whose family owns Raya Airways, to acquire the carrier, and are in early conversations, according to people familiar with the matter.

    AirAsia and Raya Airways did not immediately respond to requests for comment.

    AirAsia’s logistics unit Teleport said in November it was aiming to expand its fleet of cargo planes and scale up its freight business.

    Top executives at Raya Airways were not keen to sell the carrier, however, as they have plans for an initial public offering, the report said.

    AirAsia was last week classified as a PN17 firm by Malaysia’s stock exchange, a tag given to financially distressed firms. It said it was working on a plan to “regularise its financial condition”.

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