IBTimes UK

AirAsia Berhad, the biggest budget airline in Asia, appointed Stephane Daillencourt as the President and Chief Executive Officer of its leasing unit, Asia Aviation Capital, on Thursday.

Reuters reported that the change will be effective from November 1, 2016.

"We are thrilled to have him on board to lead AACL into its next stage of expansion as we explore more leasing opportunities," AirAsia's Group Chief Executive Officer, Tony Fernandes told Bernama.

Daillencourt, a French national, was associated with the GE Capital Aviation Services Ltd (GECAS), the commercial aircraft leasing and financing arm of US conglomerate General Electric before AirAsia appointed him as the CEO. He has over 30 years of experience in buying, selling, financing and leasing aircraft.

Fernandes said Daillencourt's experience and strong record in aircraft financing and a deep understanding of the industry will help the company in future.

AirAsia was considering options for its leasing arm, Asia Aviation Capital, including a potential sale last month. The leasing unit of AirAsia values at 4.1 billion ringgit ($1.01 billion).