Tune Air Says Unable To Secure Financing

This is what Tune Air said.

• We refer to the announcements made on 7 October 2008 and 17 November 2008.We wish to announce that Tune Air Sdn Bhd (“Tune Air”), our major shareholder, had vide its letter dated 5th December, 2008 informed us that due to the tight credit market conditions, it is unable to secure financing on acceptable terms and conditions from financial institutions to fund the potential privatisation exercise of AirAsia. Hence, Tune Air is unable to form a firm intention to proceed with the potential privatisation exercise of AirAsia.

Unable to secure financing on acceptable terms?

Well since Tune Air was kind and so transparent to announce to the markets its intended GO price ( rather unique in the world, eh?), perhaps Tune Air would be so generous and TRANSPARENT to show the market what exactly does it mean by ACCEPTABLE TERMS AND CONDITIONS.

Why not?

Share with everyone and let us know how lousy the financing offer they got.

Can ah?