Investment in AirAsia X and ACT Airlines

AviaSolutions supported Perigon Advisory of Bahrain in its role as advisor to the co-sponsors of Manara Investments Ltd, in two recent airline transactions.

  • Manara has acquired an effective 21% equity stake in Istanbul-based cargo carrier ACT Airlines.
  • Manara has agreed to acquire a 10% stake in AirAsia X. Lauched in January 2007, AirAsia X is an affiliate of AirAsia and Virgin Blue, and has recently started long-haul flights to Australia and China.

Manara is a newly established investment vehicle sponsored by four leading Saudi business groups.