The major shareholders of AirAsia and Malaysia Airlines (MAS), Tune Air and Khazanah Nasional respectively, have agreed not to sell their shares for a period of 30 months under the share swap executed by both parties earlier this week.
Tune Air, which is the investment vehicle of AirAsia co-founders Tan Sri Tony Fernandes and Datuk Kamarudin Meranun, bought a 20.5% stake, or 685.14 million shares in MAS at RM1.60 while Khazanah took up a 10% stake, or 277.65 million shares, in AirAsia at RM3.95 under the deal.