GLAS acts as Cash Manager on ‘Deal of the Year’ for AirAsia

The GLAS APAC team is pleased to have supported AirAsia on its USD$443million Revenue Bond issued in 2024. This landmark transaction was awarded ‘Deal of the Year’ at the 2024 Aviation 100 APAC Awards in Singapore.

A GLAS team based across Australia and Singapore partnered with AirAsia acting as Cash Manager on the transaction to significantly bolster its financial resilience.

The revenue bond was structured with US$200 million from prominent private credit investors, complemented by US$243 million subscribed by established aircraft lessors.

This successful transaction allows AirAsia the ability to not only meet immediate operational needs but also secure a foundation for long-term growth.

About AirAsia

The birth story of AirAsia, the aviation arm of Capital A, is an industry legend. It started back in 2001 when Tony Fernandes and Kamarudin Meranun bought an ailing airline with two aircraft and 200 staff and turned it into the fourth largest in Asia, with more than 200 aircraft and 21,000 staff across Malaysia, Thailand,
Indonesia, the Philippines, Cambodia and more.

With affordability, inclusivity and accessibility underpinning the operation, AirAsia has carried more than 800 million guests to over 130 destinations in its network. With the mission to serve the underserved, it has connected people and places, and has largely been credited for democratising air travel in the region with its famous tagline ‘Now Everyone Can Fly’.

About GLAS

GLAS was established in 2011 as an independent provider of institutional debt administration services. The company was originally created to provide the market a willing participant in complex loan restructuring transactions where many large institutions are reluctant to take swift and cooperative action. It offers a wide range of administration services developed specifically for the debt market.

GLAS is recognised as the premier independent, non-creditor, conflict-free provider of loan agency and bond trustee services, with excess of $600bn of assets under administration on a daily basis. For more information, contact media@glas.agency.