PETALING JAYA: Stanley Choi’s increased stake in low-cost carrier AirAsia Group Bhd is no ordinary bet but one where he has factored in calculated risks just like he would in any of his poker games.
The professional poker player and investor from Hong Kong started looking at the aviation industry when it bottomed out between June and July last year and just as how Covid-19 was an unprecedented pandemic, Choi viewed it as an investment opportunity of a lifetime.
And as he hunted for companies to invest in, he realised that AirAsia appealed to him the most in terms of its fundamentals and management style.
BETWEEN Feb 22 and 26, notable shareholding changes at companies listed on Bursa Malaysia included those at
AirAsia Group Bhd, where Hong Kong-based investor Dr Stanley Choi emerged as a substantial shareholder.
Choi, an expert in mergers and acquisitions and one of the founders of private equity fund Yunfeng Capital, subscribed for 167.1 million AirAsia shares or 4.5% of the group’s share base on Feb 18. This increased his stake in the airline to 8.96%.
Choi’s subscription was part of a private placement exercise that AirAsia has embarked on to raise RM454.5 million through the issuance of 668.39 million new shares. The sum indicates a price of 68 sen per share.
AirAsia Food launches food delivery service northkoreatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from northkoreatimes.com Daily Mail and Mail on Sunday newspapers.
ANI | Updated: Mar 15, 2021 11:45 IST
By Lee Kah Whye
Singapore, March 15 (ANI): Malaysian discount carrier AirAsia, which co-owns AirAsia India with Tata Sons, has launched a no-frills food delivery service in Singapore.
This is aligned with their super-app strategy to diversify revenues following the devastation caused by the COVID-19 pandemic to the airline industry. Airlines around the world are struggling to stay afloat and are finding ways to generate some revenue in whatever form.
In a report published on March 5, IATA (International Air Transport Association) said that air travel measured by Revenue Passenger Kilometres (RPKs) fell in January, from levels in December, and was 72 per cent lower than in the pre-crisis month of January 2019. This setback for the airlines passenger business was driven by tightening government travel restrictions across the world, following the emergence of COVID-19 variants.
To diversify revenues following devastation caused by COVID-19.
Airlines around the world are struggling to stay afloat.
Singapore: Malaysian discount carrier AirAsia, which co-owns AirAsia India with Tata Sons, has launched a no-frills food delivery service in Singapore.
This is aligned with their super-app strategy to diversify revenues following the devastation caused by the COVID-19 pandemic to the airline industry. Airlines around the world are struggling to stay afloat and are finding ways to generate some revenue in whatever form.
In a report published on March 5, IATA (International Air Transport Association) said that air travel measured by Revenue Passenger Kilometres (RPKs) fell in January, from levels in December, and was 72 per cent lower than in the pre-crisis month of January 2019. This setback for the airlines` passenger business was driven by tightening government travel restrictions across the world, following the emergence of COVID-19 variants.