Update: AirAsia to have RM1b by year-end

AirAsia targets to have RM1 billion cash by year-end, says group CEO Datuk Seri Tony Fernandes.

This was possible with the airline's bank balance and profits, he said on Aug 3 after the shareholders meeting on Aug 3.

The low-cost carrier's proposal was is in line with its plan to strengthen its balance sheet. Iit also recently anounced a private placement