AirAsia-SATS JV to Complement AirAsia’s Expansion Plans

AirAsia is currently in the midst of transferring 38.6 percent of its equity stake in Ground Team Red Holdings Sdn Bhd (GTRH) to SATS for a total consideration of RM360.2 million.

Source The Borneo Post

Jan. 8, 2018

KUCHING: The proposed joint venture partnership between AirAsia Bhd (AirAsia) with the chief ground-handling and in-flight catering service provider at Singapore Changi Airport, SATS Ltd (SATS) will complement AirAsia’s long-term expansion plans in Asean.

In a corporate update, researchers with MIDF Amanah Investment Bank Bhd (MIDF Research) saw that both parties completed the share-swap agreement transaction yesterday.

AirAsia is currently in the midst of transferring 38.6 per cent of its equity stake in Ground Team Red Holdings Sdn Bhd (GTRH) to SATS for a total consideration of RM360.2 million.

SATS update: https://www.sats.com.sg/Media/NewsContent/4Jan18-Update%20on%20the%20joint%20ventures%20with%20AirAsia%20Berhad-.pdf