is expected to complete its renounceable rights issue to its existing shareholders upon the listing of the redeemable convertible unsecured Islamic debt securities and warrants on Dec 31.
“After the most challenging two years in commercial aviation history, the end is finally within reach. We have survived the pandemic. We have restructured, relaunched and are now in a stronger position to recover faster,” group CEO Tan Sri Tony Fernandes said. Fernandes noted that its super app achieved unicorn status in under two years after it was valued at over RM1bil by Credit Suisse while its fintech venture BigPay raised up to US$100mil in financing from SK Group. BigPay is now focusing on securing a bank lending licence to expand its low rate offerings.
“We are gradually resuming flights in all of our key markets and look forward to returning to pre-Covid levels on many of our popular routes in the new year alongside strong vaccination rates, better testing procedures and education in all of our markets.