Air Canada's Robert A. Milton emerges as investor in AirAsia X

Robert A. Milton, chairman and chief executive officer of Ace Aviation Holdings Inc, parent company of Air Canada, has been identified as a minority shareholder in Malaysian long-haul, low-cost carrier AirAsia X.

"My involvement with AirAsia X has provided me with the exciting opportunity to participate in the newest and most promising airline business model," Milton said in a statement from Kuala Lumpur, where he announced his "minor interest" in the holding company.

AirAsia X says in a statement that Milton was a founding shareholder with a "minor interest" in Aero Ventures, which is the biggest single shareholder in the recently launched airline with 48%. Aero Ventures Sdn Bhd is a holding company founded by Seri Kalimullah Hassan, Tony Fernandes, Kamarudin Meranun, Robert Milton and Lim Kian Onn to invest in aviation-related ventures. 

The other shareholders in AirAsia X are publicly traded AirAsia, with 16%; the Virgin Group, also with 16%; Bahrain's Manara, with 10%; and Japan's Orix, also with 10%.