Tony Fernandes, the Malaysian tycoon behind budget airline AirAsia, is planning to raise more than $1bn in debt and equity for his Capital A conglomerate and preparing to list some of its businesses through a blank-cheque company in New York.
The entrepreneur has agreed a deal with Aetherium Acquisition, a special purpose acquisition company trading on Nasdaq, and plans to list several businesses through it next year, according to two people familiar with the deal. They include a new business extending the AirAsia brand to companies hoping to start airline franchises in developing countries.
AirAsia, which Fernandes bought from the Malaysian government in 2001 for less than $1 and turned into one of the region’s largest low-cost carriers, has since diversified into multiple business lines.
Read the full story on the Financial Times here.