Capital A Berhad (formerly known as AirAsia Group Berhad) Capital A Berhad today announced that it has mutually agreed with AirAsia X Berhad to extend the cut-off dates for the completion of the proposed disposal of AirAsia Aviation Group Limited and AirAsia Berhad to AAX.
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The timeline has been extended by two months, from 25 January to 24 March 2025, allowing both parties additional time to finalise the transaction for AAAGL and AAB. Notably, all due diligence for both entities has already been successfully completed.
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Tony Fernandes, CEO of Capital A, said: “We are encouraged by the progress we’ve made, and remain committed to ensuring everything is right on track. This extension provides the time needed to finalise all aspects of the transaction with precision, including obtaining consent from the lessors, which is primarily done, and receiving the earliest date (by end Feb) from the High Court of Malaya. Once the court ratifies the arrangement, we will swiftly move to complete the placement, which is already in advanced discussions.
With key milestones already achieved, including the completion of due diligence for both AirAsia Aviation Group and AirAsia Berhad, as well as the approval from shareholders of both Capital A and AirAsia X in October 2024, we are now in the final sprint.
“Upon completion, this transaction will result in a stronger, globally competitive AirAsia, leveraging synergies between short-haul and long-haul operations to improve efficiency, profitability, and shareholder returns. It will also enhance connectivity and customer experience for our guests. This move unlocks significant growth opportunities, as it aligns with Capital A’s broader strategy to lead in the digital aviation and services space. Capital A is looking forward to accelerating the growth of our technology-driven aviation services and digital ecosystem, particularly in response to the anticipated global rise in travel demand.”
This extension ensures that both parties have adequate time to fulfill the necessary conditions and finalise the transaction. All other terms and conditions of the SSPAs remain unchanged.
About Capital A
Capital A is an investment holding company with a portfolio of synergistic travel and lifestyle businesses that leverage data and technology, including airasia Superapp, fintech BigPay and logistics venture Teleport. Capital A’s vision is to create and deliver products and services that focus on offering the best value at the lowest cost, underpinned by robust data accumulated over 20 years in operation and one of Asia’s leading brands that remains committed to serving the underserved.
