Saudi Arabia’s sovereign wealth fund is poised to invest about $100 million in Malaysian carrier group AirAsia, according to people familiar with the matter, strengthening the Gulf kingdom’s ties with a region that’s a major source of tourism.

Saudi Arabia's sovereign wealth fund is set to invest $100 million in Malaysia's Capital A-owned budget airline AirAsia, Bloomberg News reported on Thursday, citing people familiar with the matter.

SAUDI Arabia’s sovereign wealth fund is poised to invest about US$100 million in Malaysian carrier group AirAsia, according to people familiar with the matter, strengthening the Gulf kingdom’s ties with a region that’s a major source of tourism.

Saudi Arabia's Public Investment Fund (PIF), which manages nearly a trillion dollars in assets, is set to invest $100m in Malaysian airline AirAsia. The carrier is in a fundraising round following years of financial difficulties caused by the pandemic and supply chain problems.