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A Saudi Arabian investment fund is now reportedly looking to invest around $100 million in local airline, AirAsia. With this move, it will not only help AirAsia in terms of funding, but will also strengthen tourism between the Southeast Asian region and Saudi Arabia.
This move is also in line with Saudi Arabia's recent shift in attracting more tourists to their country.
AirAsia is said to be in talks with several parties in the process of raising funds, including from Singapore and Japan. It is targeted that AirAsia may want to raise funds of around RM1 billion, and the investment injection from Saudi Arabia may be one of the largest. AirAsia is said to be offering a stake of up to 15% at a value of $2 billion.
According to reports, an announcement regarding this investment injection is expected to happen in a few weeks - if all parties agree and the discussions go smoothly.