Malaysian budget carrier AirAsia is not planning a rights offering to shore up its balance sheet even as it expects borrowings to swell by MYR2.1 billion ringgit (USD$566 million) this year, a senior company official said on Wednesday.

"We don't see the need (for a rights offering) as yet," AirAsia deputy CEO Kamarudin Meranun said in response to an inquiry about capital raising plans.

AirAsia told investors in a strategy update on Tuesday that it will raise MYR2 billion to MYR2.1 billion this year to finance new aircraft.