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AirAsia sells Asian Aviation Centre stake to JV partner for RM429.3m

Mimi Sabreena 3:17:00 PM Informasi

KUALA LUMPUR (Aug 25): Budget airline carrier AirAsia Bhd said it is selling its entire 50% stake in Asian Aviation Centre of Excellence (AACE) for US$100 million (RM429.3 million) to its joint venture (JV) partner, CAE International Holding Ltd.

"In the long run, the transaction allows AirAsia to concentrate on its core business by completely outsourcing its training needs to CAE Group and also avoid making further significant capital investments in the JV company," the airline said in a bourse filing today.

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