AirAsia triumphs at Asia Pacific Aviation 100 Awards with Asia-Pacific Overall Deal of the Year and CFO/Treasurer of the Year awards
SINGAPORE, 6 November 2024 – AirAsia has secured two top honours at the Asia Pacific Aviation 100 Awards: Asia-Pacific Overall Deal of the Year and Asia-Pacific CFO/Treasurer of the Year. These accolades reflect AirAsia’s robust financial strategies, which have significantly bolstered its financial resilience and driven its continued strong recovery.
As part of Capital A’s strategic initiatives, the US$443 million revenue bond secured in August 2024 marks a major step in strengthening the company’s balance sheet and was one of the key achievements supporting the awards. The bond was structured with US$200 million from prominent private credit investors, complemented by US$243 million subscribed by established aircraft lessors. This funding has been critical for reactivating grounded aircraft and refinancing lease obligations, enabling AirAsia to not only meet immediate operational needs but also secure a foundation for long-term growth.
These funds are driving AirAsia’s operational growth for 2025, allowing the airline to reactivate its order book with four new A321neos already delivered in 2024 and another five set for delivery by year’s end.
In line with this fleet expansion, the funds are also allocated to enhancing multi-hub connectivity across high-demand regions, starting with outbound Malaysia. In 2025, AirAsia plans to strengthen its presence in established markets like China and India, particularly through expanded connections to secondary airports. This development will serve as a foundation for broader growth in 2026 and 2027, where the airline will deepen its network in Australia, Japan, and South Korea, alongside launching new routes across Africa.
In addition to the bond, AirAsia’s CFO/Treasury Team was awarded for their role in executing the transaction and steering the airline through one of the most challenging periods in its history.
Farouk Kamal, Deputy CEO (Corporate) of AirAsia Aviation Group said: “This bond marks more than financial recovery, it is a strategic launchpad for AirAsia’s next era of growth. Our vision is to bring the world to Asean, and Asean to the world, by establishing the most expansive route networks across Asia-Pacific and beyond, and with this robust financial backing, innovative strategies, and commitment to accessible global connectivity, AirAsia is poised to continue leading the market with disciplined expansion and customer-focused service.
“By the end of 2025, we anticipate increasing our operational fleet from currently 200 to 221 aircraft, enabling us to introduce more frequent flights and new destinations. This growth, coupled with the planned consolidation into an enlarged Aviation Group, reinforces our dedication to strengthening AirAsia’s network and presence.
“These awards underscore AirAsia’s strength in financial management, strategic planning, and innovative deal-making. This would not have been possible without our incredible aircraft finance and treasury team as their expertise and dedication were crucial in securing the bond. Their significant efforts have enhanced our financial resilience and paved the way for our fleet expansion and operational growth positioning us well to meet the rising travel demand. Their achievements are rightly recognised, setting the stage for even greater accomplishments in 2025 and beyond.”
The Aviation 100 awards, hosted by Airline Economics Magazine, recognise the most outstanding performers in the aviation industry, highlighting innovative and successful finance and leasing deals closed within the past year. The awards are determined through an industry-wide survey, rigorous vetting, and editorial considerations, recognising the best of the best in aviation finance and leasing.