By Cirium2021-03-02T01:31:00+00:00
AirAsia Group has disclosed that it extended approximately $40 million in advances and corporate guarantees to Philippines AirAsia in November-December.
The low-cost airline group on 19 November provided a $19.1 million corporate guarantee to Filipino bank BDO Unibank. This was in relation to the restructuring of a three-year, $35 million loan to Philippines AirAsia, the group says in a 26 February disclosure to Bursa Malaysia.
Source: Wikimedia Commons
An AirAsia Philippines Airbus A320 at Manila.
On 29 December, AirAsia Group through AirAsia Berhad provided AirAsia Inc with a corporate guarantee and cash advances amounting to Ps991 million ($20.4 million), with Citibank Philippines as the beneficiary. In support of that move, AirAsia Group pledged one of AirAsia Berhad’s spare engines for an uncommitted short-term revolving credit facility applied for by Philippines AirAsia.
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