KUALA LUMPUR, Dec 16 (Bernama) — Capital A Berhad (formerly known as AirAsia Group Berhad) (“Capital A” or “Group”) welcomes news that its logistics venture subsidiary, Teleport, has entered into a term sheet with large institutional credit investors to raise up to US$50 million to fund its expansion of cross-border delivery capabilities in all key Southeast Asian markets.
Chief Executive Officer of Capital A Tony Fernandes said, “We are proud to see the latest development and that top-tier investors are beginning to buy into our vision of becoming the best logistics player in Asean. With an operating fleet size today of 125 planes in AirAsia Aviation Group, and with target to operate the full 205 aircraft and network by 2Q23, coupled with the first freighters arriving in the first quarter of 2023, Capital A’s Teleport is now in the best position and has the best advantage of achieving that vision. If you add data and tech into our logistics, including end-to-end track and trace, custom clearance, e-airway bills, we can do what no other logistics player can do.”