Air Arabia's $336 Million Exposure to Abraaj
Email: info@franchise.ae
 
Search Business Opportunities
Jun, 22 2018

Air Arabia's $336 Million Exposure to Abraaj

Air Arabia stocks dropped 7.1 percent due the airline’s agreement with Abraaj

Air Arabia's $336 Million Exposure to Abraaj

The company said Air Arabia has an exposure of $336 million to fund portfolios and short-term investments managed by troubled private equity firm Abraaj.

In a statement, Air Arabia spokesperson said that ” A team of experts is actively engaged with all stakeholders and creditors involved in the matter to ensure Air Arabia’s investment and business interest is protected.”

The court appointed representatives on June 18th to conduct a court-supervised restricting of Abraaj’s distressed funds to ensure that the rights of investors, including Air Arabia, are preserved.

The spokesperson added, “In addition, we have an appointed legal representative before the court and who is closely involved in all proceedings following the court’s decision.”

He said, “The impact of the exposure to Abraaj funds is limited to the investment portfolio of Air Arabia Group”.

The spokesperson also said, “We emphasize that there is no significant impact on Air Arabia’s daily or future business or on its liquidity status and that the business is operating as usual.”

Air Arabia stocks dropped 7.1 percent due the airline’s agreement with Abraaj, while filed for provisional liquidation late last week.

Comment
User
Email
Star
Address
Related opportunities
  • Quick Service Restaurants
    About: Launched in 2012, Chicken Xpress is South Africa's leading brand..
    Locations looking for expansion -NA-
    Establishment year 2012
    Franchising Launch Date 2017
    Investment size USD 100,000 - 500,000
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New Delhi -NA-
  • About Bike Studio by LA SovereignLA Sovereign Bicycles Pvt Ltd...
    Locations looking for expansion -NA-
    Establishment year 2006
    Franchising Launch Date 2015
    Investment size USD 50,000 - 100,000
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New Delhi -NA-
  • About:Jwala Gutta’s Global Academy for Badminton is a privately owned..
    Locations looking for expansion -NA-
    Establishment year 2013
    Franchising Launch Date 2016
    Investment size USD 50,000 - 100,000
    Space required 4250
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater South Delhi -NA-
  • Ayurvedic, Herbal & Organic Products
    About:OMORFEE, an Indo – German venture of Bioruns Private Limited,..
    Locations looking for expansion -NA-
    Establishment year 2016
    Franchising Launch Date 2017
    Investment size USD 50,000 - 100,000
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater South Delhi -NA-