Capital A to divest aviation businesses to AirAsia X

Tan Sri Tony Fernandes

KUALA LUMPUR: Capital A Bhd is finalising its regularisation plan that could see the group divesting its aviation businesses, namely AirAsia Bhd and AirAsia Aviation Group Limited, to AirAsia X Bhd (AAX).

“Together with our partners, financial and legal advisors, we are finalising a scheme, subject to regulatory and other necessary approvals, that we anticipate will not only uplift us from the Practice Note 17 (PN17) status, but also unlock enormous value for the shareholders of Capital A, and ultimately, lead us to a healthier financial standing and profitability,” chief executive officer Tan Sri Tony Fernandes said in a statement.