Aviation in a ‘purple patch’ amid new plane crunch, says AirAsia founder

(Feb 26): The aviation industry is experiencing a “purple patch” with demand for seats far outstripping capacity amid a long wait for new aircraft and a shortage of pilots further discouraging any fresh competition, Tan Sri Tony Fernandes, the founder of low-cost carrier AirAsia, said.

Malaysia-based AirAsia for its part is set to witness its “best-ever period” with most of the carrier’s 240 planes back in the sky and “airfares at their best,” Fernandes said during an interview near Kuala Lumpur’s international airport on Monday.

“I’ve never been this bullish before,” Fernandes, who started AirAsia 23 years ago, said. “Southeast Asia is going through a renaissance period of sensible economics, and that’s a good thing.”

On the back of that, AirAsia plans to raise as much as US$600 million (RM2.87 billion) in the coming months, Fernandes said, as he tries to pull off a merger between his two aviation businesses — long-haul carrier AirAsia X Bhd and…