AirAsia plans to sell off stake in leasing unit
KUALA LUMPUR • AirAsia, Asia's biggest budget airline, will kick off the sale of a majority stake in its plane leasing unit this month, a deal that could value the business at about US$1 billion (S$1.3 billion), people familiar with the matter told Reuters.
The deal would help AirAsia boost its finances and slash debt. At an overall valuation of US$1 billion, the sale would be significant for a carrier with a market capitalisation of $2 billion. AirAsia declined to comment.
London Metal Exchange to cut trading fees
LONDON • The London Metal Exchange is expected to cut some trading fees, in a bid to arrest sliding volumes, but lower costs are unlikely to convince those already using cheaper alternatives to return, industry sources say.
Volumes on the exchange have been falling since trading fees were hiked an average 31 per cent in January last year. Much of the drop is due to some core clients moving to rival exchanges or using over-the- counter contracts.