AIR ASIA -- BUY FROM FINANCIAL DAILY

AirAsia Bhd (AIRA MK, Buy, TP: RM1.90) is considering selling the entire 20% shares it plans to issue to a single institutional fund or a strategic investor in a bid to reduce debt. “Some funds have come to us and want to take the whole 20%. We may do a placement to a strategic investor or a fund,“ chief executive officer Datuk Seri Tony Fernandes said. A strategic investor might be a private equity firm or a partner in the tourism industry, he added. He declined to be more specific,though ruled out selling a stake to a rival airline. Datuk Seri Tony Fernandes plans to meet potential investors this month and the share sale should be completed in early August. (Financial Daily)
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AirAsia Bhd (AIRA MK, Buy, TP: RM1.90) is establishing Penang as its eighth hub with the inclusion of another international flight from the state to Hong Kong starting July 31, 2009. In a statement yesterday, AirAsia said the new service was its sixth international service from Penang after Singapore, Bangkok, Medan, Jakarta, Macau and the third international service from Hong Kong after Kuala Lumpur and Bangkok. Its other hubs are Kuala Lumpur, Johor Bahru, Kota Kinabalu, Bandung, Bali, Jakarta, Bangkok and a ‘virtual hub’ in Singapore. (Financial Daily)