Kuala Lumpur, Mar 13, 2012 AEST (ABN Newswire) - Malaysian-based Tu-E Capital Bhd has signed an agreement for the purchase of 40 per cent equity in Bangladesh-based Bismillah Airlines, with a capital injection of US$35 million.
In a statement here, the company said the Bismillah Airlines is dedicated to providing flights for Bangladeshi employees working abroad and an estimated eight million workers are expected to use the airline's service.
Tu-E Capital's general manager Azhar Idrus said his company had the "strength of injected capital through banking instruments, and was ready to hold equity in two other airlines, namely Thailand-based Platinum Airlines and Dubai-based Middle East Airlines."
"We will act as a strategic alliance to these companies," he said, adding that other Asian airlines had shown interest as well.
Contact
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