Southeast Asia's leading low-cost carrier AirAsia, the single largest buyer of the A320-200 in the Asia Pacific region, today said it has secured loans at attractive rates to finance 33 of the 60 aircraft it has ordered from Europe's Airbus.

"We secured attractive rates for the 33 aircraft that will delivered to us in the next two years starting December 2005," Kamarudin Meranum, AirAsia's executive director told AFP . He declined to elaborate.

The budget airline has ordered 60 Airbus A320s with an option for another 40 aircraft which will completely replace its current fleet of 28 single-aisle, 148-seat Boeing 737-300s.

Kamarudin said the financing of the remaining 27 aircraft to be delivered in 2008 and 2009 will be confirmed at the end of next year.

"All loans are for a tenure of 12 years starting on the delivery date of each aircraft," AirAsia said.

AirAsia last month said its inaugural annual net profit was 30.2 percent lower than forecast due to higher fuel prices and an aircraft shortage.

It posted a net profit for the year to June of RM111.63 million, well below the RM159.9 million set in its initial public offering (IPO) prospectus of October 2004.

AirAsia was launched as a budget carrier in December 2001 with just two aircraft and has since become a significant regional player, with its business model now imitated by startled national carriers along with a host of new low-cost entrants.