SK Group May Buy 10% Stake in Air Asia for 94.2-B Won

The SK Group has been reviewing a proposal to invest some 94.2 billion won for a 10 percent stake in Malaysian-flagged Air Asia.

Industry observers that SK Group is interested in a mere stake acquisition in Air Asia and not into focusing on aviation.

There are also doubts about whether SK would invest in Air Asia since the global aviation industry is going through severe turmoil due to the pandemic.

The proposal was sent to SK Southeast Asia Investment Corp., the group’s investment arm operating in the region, which has been investing mostly in Vietnam.

In 2018, the investment arm acquired a 9.5 percent stake in Vietnam’s Masan Group for 570 billion won. Last year, it bought a 6.1 percent stake Binh Group, Vietnam’s largest private business group, for 1.2 trillion won.