Tony Fernandes says AAX is a RM 3.1 B company, that was worth RM 1.25 B in 2008, and which plummeted in value to RM 660 million in 2012

As reported in The Edge Financial Daily, 28 June 2012:

Sir Richard Branson’s Virgin Atlantic Airways Ltd is expected to divest its 10% stake in AirAsia X Sdn Bhd to local existing shareholders for more than RM66 million (US$21 million)


".... investors got an inkling of Air Asia X’s valuation (in 2008)  when Japan’s Orix Group and Manara Consortium took a 10% stake each in Air Asia X for a total sum of RM250 million.
The deal effectively valued Air Asia X at RM1.25 billion."

".....“If it is true that Virgin is disposing of its
10% interest in Air Asia X for RM66 million, then the valuation
of Air Asia X has changed,” said a banker."


Readers are reminded that these were share transactions in a private company involving  long term shareholders to  which the existing  majority  would have had to agree. How much one buys and sells bits and pieces of one's own company is  likely to be more clear indication of how much one thinks the company is worth.

Given the above, Tony's current valuation seems fanciful.

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