A private placement to raise 1 billion ringgit ($226 million) by Malaysia's Capital A, owner of budget airline AirAsia, was "done", Group CEO Tony Fernandes said on Monday, as the company edges closer to completing a reorganisation plan.

Malaysias Capital A, parent company of budget airline AirAsia, has successfully raised 1 billion ringgit ($226 million) through a private placement, CEO Tony Fernandes confirmed Monday. The company is now moving closer

A private placement to raise 1 billion ringgit ($226 million) by Malaysia's Capital A, owner of budget airline AirAsia, was "done," Group CEO Tony Fernandes said on Monday, as the company edges closer to completing a reorganization plan.

Malaysia’s Capital A, the parent company of budget airline AirAsia, has completed its 1 billion ringgit ($226 million) private placement, Reuters reported on Monday. The move strengthens its efforts to exit its PN17 classification—Malaysia’s designation for financially distressed firms—after the airline group suffered significant losses due to