The Board of AirAsia wishes to announce that Asia Aviation Capital Pte. Ltd., a wholly-owned subsidiary incorporated in Singapore, of the ultimate holding company, AirAsia, had on 21st December 2017 incorporated the following entities in Singapore for the purposes of aircraft financing transactions:-

1. AAC 1 Pte. Ltd.;
2. AAC 2 Pte. Ltd.;
3. AAC 3 Pte. Ltd.; and
4. AAC 4 Pte. Ltd.

(Collectively “the Subsidiaries”)

The issued share capital of each of the Subsidiaries is USD100. The incorporation of the Subsidiaries is not expected to have any immediate effect on the issued and paid-up share capital or substantial shareholders’ shareholding in AirAsia.

The establishment of the Subsidiaries are also not subject to the approval of shareholders of the Company and any other regulatory authorities in Malaysia.

This announcement is dated 26th December 2017.