If successful, the soon to be re-branded AirAsia Consulting will raise its own capital for the acquisition, Fernandes told reporters in Malaysia this week at a media conference that was held to announce the extension of his tenure as chief for another five years.

“Just to clear that up for everyone, AirAsia is not buying SriLankan Airlines. AirAsia Consulting, which will set up its own fund, is looking at buying SriLankan Airlines. So, it’s not AirAsia,” he said.

AirAsia Consulting will be changing (its name) to Capital A Consulting very soon. So, that’s for airlines who want to consult our 23 years of experience, but AirAsia Consulting is also looking for opportunities to invest in airlines outside of ASEAN. AirAsia is fully focused on ASEAN.