AirAsia Group CEO, Tony Fernandes said: "Our plan to raise up to MYR 2.5 billion ringgit through a combination of borrowing and equity raising is on track. This transaction delivers a welcome boost to our overall fundraising strategy. "We have already raised MYR 336.5 million from two tranches of private placements earlier this year and continue to renegotiate leasing terms with all of our lessors. We have also disposed of 32.67% of our interest in AirAsia India, amounting to USD 37.68 million (approximately RM152.64 million), ceased operations in Japan and sold a number of spare engines amounting to over USD130 million. "There are a number of other fundraising initiatives in place to ensure sufficient liquidity for the Group, which are well progressed. We are in the process of finalising a Danajamin PRIHATIN Guarantee Scheme loan, working on a data backed loan of up to USD350 million and preparing for a rights issue of up to RM1.02 billion which has a target completion in December.