AirAsia Group, which has logged losses for two consecutive quarters, has asked
Ares Management and Indies Capital Partners to amend terms of a $200 million
private credit facility to ensure partial payments to aircraft lessors, people
familiar with the matter said. The carrier asked lenders to allow revenue from
specific routes to be shared with lessors that are also owed payments; those
route revenues are currently pledged to the private lenders for loan repayment.
The change would give lessors greater certainty, the sources said, but requires
approval from both Ares and Indies and may not be agreed.
