Air Canada parent ACE Aviation Holdings’ chairman and CEO, Robert Milton, has been identified as a minority shareholder in Malaysian long-haul, low-cost carrier AirAsia X.
AirAsia X says in a statement that Milton was a founding shareholder with a “minor interest” in Aero Ventures, which is the biggest single shareholder in the recently launched airline with 48%. It does not reveal Milton’s exact shareholding in Aero Ventures.
Aero Ventures was established by the head of short-haul carrier AirAsia, Tony Fernandes. In addition to Milton, his fellow shareholders are Malaysian nationals Kalimullah Hassan, Kamarudin Meranun and Lim Kian Onn.
The other shareholders in AirAsia X are publicly traded AirAsia, with 16%; the Virgin Group, also with 16%; Bahrain’s Manara, with 10%; and Japan’s Orix, also with 10%.
AirAsia X launched services late last year with a single leased Airbus A330 serving the Gold Coast in Australia. It recently added services to Hangzhou in China and later this year will start taking delivery of purchased A330s from Airbus.
Its aircraft are being configured in high-density seating layouts and tickets are being sold through the AirAsia website. Milton says in the statement: “My involvement with AirAsia X has provided me with the exciting opportunity to participate in the newest and most promising airline business model today.”
Milton, who spent part of his childhood in Singapore, near Malaysia, adds: “I believe AirAsia X has great potential as the first truly low-cost, long-haul carrier in a region which will see significant future traffic growth – an area of the world to which I also happen to have strong personal ties.”
Source: flightglobal.com's sister premium Air Transport Intelligence news
Related blog: Lucky strike: Milton invests in AirAsia X
Source: FlightGlobal.com
