Capital A, AAX overhaul is looking up

AirAsia staff at an event. The firm’s consolidation exercise might be further sweetened for AAX by the strengthening of the ringgit over the past few months.

GETTING Bursa Malaysia to approve Capital A Bhd’s restructuring plan is a huge relief for its head honcho, Tan Sri Tony Fernandes, and his team after going back and forth with the regulator for two years.

The clearance from Bursa means the company is closer to exiting its Practice Note 17 (PN17) status, as it has proposed to divest its entire aviation operations to sister company AirAsia X Bhd (AAX).