‘It’s still awkward to actually call AirAsia Capital A, but why suddenly want to repair KLIA eh? Are there any signs that you can travel far? '
Capital A, formerly ‘AirAsia’, raised more than RM400 million in capital to assist its engineering arm to maintain, repair and overhaul (MRO) the Kuala Lumpur International Airport (KLIA).
Capital A Chief Executive Officer (CEO) Tan Sri Tony Fernandes said the accumulated capital would be fully utilized by its subsidiary, Asia Digital Engineering (ADE) to carry out MRO activities.
According to ADE CEO, Mahesh Kumar, it will require an expenditure of RM250 million to build a new facility in Kuala Lumpur and they also plan to develop similar facilities in Thailand, the Philippines and Indonesia, besides stating that the project will start in mid -2022 and take 2 years to be ready.
He said the facility will provide MRO services to more than 14 commercial aircraft at a time, besides, it will also make the company one of the largest MRO providers in the Asian region.
Briefly, AED is responsible for line maintenance, warehousing and engineering support services on Airbus A320, A321 and A330 jets.
As at noon, AirAsia's Capital A shares were trading lower at 0.60 sen or 1.59% with a market value of RM2.56 billion.
