News
Capital A and AirAsia X granted more time to complete strategic transaction
April 10th 2024
AirAsia X (AAX) and Capital A, parent company of AirAsia Aviation Group, and Malaysia-based AirAsia Berhad, are to extend the deadline for completion of a strategic transaction for the second time. Read More » “On behalf of the board of directors of the company, RHB Investment Bank Berhad wishes to announce the company and AAX have mutually agreed to extend negotiations until April 30, 2024,” Capital A said in a regulatory filing. AAX issued a similar statement. The previous date for conclusion of the negotiations was April 15. At the start of the year, the two parties announced AAX had signed a non-binding Letter of Acceptance with Capital A to acquire AirAsia Berhad and AirAsia Aviation Group Limited. AAX chair, Dato’ Fam Lee Ee, said at the time the transaction consolidated the AirAsia brand as a single-listed entity and reflected a commitment to “capitalise on our regained strength and market confidence to deliver a unified and unparalleled travel experience for our guests and significant value for our shareholders”. Capital A CEO, Tony Fernandes, said in January: “Following the sale of the aviation business, Capital A shareholders will become shareholders of the two strong listed companies. We believe this move will bring greater clarity to investments, create a more focused shareholder base and ultimately unlock value for our shareholders.”
