KUALA LUMPUR: TRANSMILE GROUP BHD [] is selling four of its aircraft to Federal Express Corporation for US$68 million (RM208.8 million) which would enable it to reduce its debts by 39% to about RM320.1 million.
The company said on Monday, Jan 10 it has signed a sale and purchase agreement with FedEx to sell four MD-11F aircraft for US$17 million (RM52.2 million) each to be satisfied entirely in cash.
Transmile said the total disposal consideration for all the four aircraft would be US$68 million (RM208.8 million).
With the completion of the proposed disposal and usage of the proceeds of US$68 million (RM208.8 million), the net amount of outstanding debt obligations to be restructured was expected to be reduced by up to 39% to RM320.1 million.
The company said on Monday, Jan 10 it has signed a sale and purchase agreement with FedEx to sell four MD-11F aircraft for US$17 million (RM52.2 million) each to be satisfied entirely in cash.
Transmile said the total disposal consideration for all the four aircraft would be US$68 million (RM208.8 million).
With the completion of the proposed disposal and usage of the proceeds of US$68 million (RM208.8 million), the net amount of outstanding debt obligations to be restructured was expected to be reduced by up to 39% to RM320.1 million.
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