Business
Malaysia’s AirAsia eyes air cargo carrier – media
Published by maria gbaf
Posted on January 24, 2022
1 min readLast updated: January 28, 2026
Global Banking & Finance Review®
Company
Published by maria gbaf
Posted on January 24, 2022
1 min readLast updated: January 28, 2026
AirAsia is in early discussions to acquire Raya Airways to expand its logistics business, despite Raya's IPO plans. AirAsia is also addressing its PN17 financial status.
KUALA LUMPUR (Reuters) – Malaysia’s flagship budget airline AirAsia Group Bhd is in early acquisition discussions for air cargo carrier Raya Airways to beef up its logistics business, The Edge Weekly reported on Saturday citing sources.
The business weekly said the airline has approached businessman Ishak Ismail whose family owns Raya Airways, to acquire the carrier, and are in early conversations, according to people familiar with the matter.
AirAsia and Raya Airways did not immediately respond to requests for comment.
AirAsia’s logistics unit Teleport said in November it was aiming to expand its fleet of cargo planes and scale up its freight business.
Top executives at Raya Airways were not keen to sell the carrier, however, as they have plans for an initial public offering, the report said.
AirAsia was last week classified as a PN17 firm by Malaysia’s stock exchange, a tag given to financially distressed firms. It said it was working on a plan to “regularise its financial condition”.
(Reporting by Liz Lee; Editing by Jacqueline Wong)
The main topic is AirAsia's potential acquisition of Raya Airways to enhance its air cargo operations.
AirAsia aims to strengthen its logistics and cargo business by acquiring Raya Airways.
Raya Airways is hesitant to sell as they plan an initial public offering.
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