Perigon Advisory – Investment in AirAsia X and ACT Airlines

AviaSolutions supported Perigon Advisory of Bahrain in its role in two airline transactions as advisor to the co-sponsors of Manara Investments Ltd. This involved undertaking due diligence on business plans and forecasts, including route network, passenger/cargo projections, traffic mix, yield, aircraft utilisation, operating costs and cash flow. We undertook extensive benchmarking of current and future performance with peer airlines.

• Manara agreed to acquire a 10% stake in AirAsia X. Launched in January 2007, AirAsia X is an affiliate of AirAsia and Virgin Blue and operates long haul low cost services.
• Manara acquired an effective 21% equity stake in Istanbul-based cargo carrier ACT Airlines.