AirAsia Gets Takeover Offer For Leasing Unit

AirAsia has received a USD$1 billion offer for its aircraft leasing unit, according to a media report.

AirAsia intends to divest the business, Asia Aviation Capital, at some point, chief executive Tony Fernandes told Bloomberg, but added that the offer needs to be discussed further with the board.

He was quoted as saying that the business was a "powerful cash generator".

Chinese companies are seeking to grow aggressively in the leasing industry that provides about 40 percent of the planes used by airlines globally.

AirAsia said late last year that it had received approaches from investors to co-invest in the leasing unit.