MANILA: AirAsia Philippines has secured a new investor as the airline prepares to expand its fleet and network, according to AirAsia boss Tony Fernandes.
Fernandes is scheduled to travel to Manila to conclude investment discussions with the new shareholder, whose identity has not been disclosed.
He said AirAsia Philippines had undergone restructuring and a reduction in scale, but expansion plans were now being prepared ahead of the introduction of additional aircraft.
The airline is scheduled to begin receiving Airbus A220 aircraft from 2028, with the new aircraft expected to replace its A320 fleet, which is being retired from this year.
The A220 is expected to provide greater flexibility for domestic and regional operations, including access to airports with shorter runways traditionally designed for turboprop aircraft.
AirAsia Philippines
The aircraft can accommodate up to 160 passengers and has a range of about 3,450 nautical miles, allowing AirAsia Philippines to explore additional routes.
However, additional funding will be required to support aviation-related fees and other operating obligations.
The airline has faced difficulties meeting obligations to aviation regulators, including the Civil Aviation Authority of the Philippines.
The new investment is therefore expected to provide additional resources as AirAsia Philippines prepares for its next phase of growth.
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