BANGKOK: Asia Aviation Plc (AAV), the major shareholder of Thai AirAsia Co Ltd (TAA), announced it has successfully raised 14 billion baht (RM1.8bil) in capital, involving the issuance of convertible bonds and new ordinary shares to increase working capital and enhance liquidity for the airline.

       In a statement, the company announced that it has successfully restructured its shareholding through a recent rights offering to its existing shareholders of 1.7 billion ordinary shares worth three billion baht (RM379mil).

       Besides that, the company also increased its registered capital by offering 8.8 billion baht (RM1.1bil) worth of private placements and the issuance of 2.2 billion baht (RM278mil) worth of convertible bonds.

       Executive chairman of Asia Aviation Plc and Thai AirAsia Co Ltd Tassapon Bijleveld said that the overwhelming response to the latest rights offering signalled strong support and confidence from shareholders despite the current economic doldrums and the Covid-19 situation. — Bernama