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AirAsia clinches deal to sell 182 Airbus jets portfolio for $1.2 billion

Under the deal, Fly Leasing Ltd, Incline B Aviation Ltd Partnership and Nomura Babcock and Brown will acquire a portfolio of 84 aircraft and 14 engines

Reuters  |  Kuala Lumpur / Singapore 

 AirAsia Bhd is selling up to 182 Airbus jets to firms managed by BBAM Ltd, one of the world's largest aircraft portfolio managers, in a $1.2 billion deal that will help it cut debt and give it firepower to expand further. With the sale of its leasing operations, Asia's biggest budget airline is cashing in on a booming leasing sector after ordering hundreds of Airbus planes at bargain prices in recent years to become one of Airbus' biggest customers. The move, which lifted AirAsia's shares 5 percent higher, is part of restructuring efforts that include ...

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First Published: Thu, March 01 2018. 22:17 IST