What was the initial loan amount from Sabah Development Bank?

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Initial Loan Amount from Sabah Development Bank to AirAsia Group

AirAsia Group initially received a loan amounting to RM300 million from the Sabah Development Bank. This significant financial injection was crucial for the airline's survival during the challenging period of the Covid-19 lockdown, a time when the company faced the risk of closure.
Loan Repayment Status

The group has made substantial progress in repaying this loan, having already settled more than half of the principal amount. As of the latest information, the outstanding balance stands at RM170 million. This repayment plan is scheduled to continue over the next two years, demonstrating a commitment to fulfilling the financial obligations.
Interest Paid

In addition to the principal repayment, AirAsia Group has also paid RM69 million in interest on the loan. This figure underscores the financial commitment made by the group as part of the loan agreement.
Utilization of Loan Funds

The RM300 million loan was strategically allocated to various development initiatives within the AirAsia Group. A portion of the funds was directed towards enhancing Teleport's operational capabilities, including the establishment of cold storage facilities in Sabah. Furthermore, the loan supported the development of the group's new mobile application, Move, and other AirAsia-related projects.

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What was the initial loan amount from Sabah Development Bank?

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