Exclusive - AirAsia sounding out investors to take company private: sources

SINGAPORE (Reuters) - Founders of Asia's No.1 budget carrier AirAsia Bhd are sounding out investors to take the company private in a management-led buyout, after its shares took a beating this year following a critical research report, people familiar with the matter said.

AirAsia (AIRA.KL) boss Tony Fernandes and his long-time business partner Kamarudin Meranun are working with banks to secure financing for the transaction, which could be launched over the next few months, said the people, who did not want to be identified as the discussions are confidential.

Obtaining financing will be key for the deal to succeed, the people said.

An AirAsia spokeswoman had no immediate comment when contacted by Reuters.

The airline's market value has fallen 40 percent to 3.51 billion ringgit (529 million pounds) since Hong Kong-based GMT Research questioned AirAsia's accounts in a report in June.

The report came as AirAsia was under pressure to turn around its loss-making affiliates and was being squeezed by industry overcapacity in a low-margin business.

Group CEO Fernandes, who has led the airline's rise from a two-plane operation in 2002 to a billion-dollar business, has steadfastly defended the company's finances and outlook and said the market was undervaluing it.

Tune Air, jointly owned by Fernandes and Meranun, owns about 19 percent of AirAsia. The plan to take the airline private comes a decade after it was listed on the Kuala Lumpur stock exchange priced at 1.25 ringgit for institutional investors, around where it was trading on Tuesday.

(Reporting by Anshuman Daga and Saeed Azhar; Additional reporting by Yantoultra Ngui in KUALA LUMPUR; Editing by Lisa Jucca and Alex Richardson)