AirAsia Aviation Group, now owned by AirAsia X (D7, Kuala Lumpur International), is seeking a USD230 million private-credit facility structured as an 18-month revenue bond backed by ticket sales on several routes. Deutsche Bank has underwritten and fully funded the transaction and is syndicating it to selected banks and funds. The deal reportedly tests investor appetite for the carrier as fuel costs rise following oil price gains linked to the US-Israel-Iran war and the closure of the Strait of Hormuz.