KUALA LUMPUR (April 23): Capital A Bhd’s unit AirAsia Consulting Sdn Bhd is still in the pre-qualification stage for the acquisition of national carrier SriLankan Airlines.
However, AirAsia Consulting has yet to submit any price bid since due diligence has not been carried out, its chief executive officer Subashini Silvadas told The Edge on Tuesday.
Silvadas said it is involved in the request for qualification (RFQ) process for SriLankan Airlines.
“If selected, prequalified bidders will be given the opportunity to conduct due diligence on SriLankan Airlines.
“While we are bound by confidentiality obligations and unable to disclose specific details at this time, AirAsia Consulting looks forward to further engagement with the International Finance Corporation, which is mandated to advise the government on the divestiture of SriLankan Airlines and the government of Sri Lanka," said Silvadas in a statement.
AirAsia Consulting is a wholly owned subsidiary of Capital A, which is in the midst of regularising its financials after falling into Practice Note 17 status.
Reuters reported on Monday that the AirAsia group is among six bidders for Sri Lanka's state-run carrier, as the island nation looks to reduce losses incurred by government-owned enterprises under a US$2.9 billion (RM13.8 billion) International Monetary Fund programme.
AirAsia Consulting, soon to be named Capital A Consultancy, specialises in reviewing airline partnerships, franchise opportunities, and offering consultancy services to airlines globally.
AirAsia Consulting operates under Capital A Aviation Services, which comprises maintenance and engineering service provider Asia Digital Engineering, food services company Santan, ground handling company GTR, and shared service centre DARTS.
Established in April 2021, the consultancy venture leverages AirAsia’s experience and performance to provide a comprehensive range of services to airline clients, including setting up new low-cost airlines, airline turnarounds, operations optimisation, business and strategic planning, fleet and network strategy, and beyond.