KUALA LUMPUR: Capital A Bhd
has mutually agreed with AirAsia X Bhd (AAX) to extend the cut-off dates for the completion of the proposed disposal of AirAsia Aviation Group Limited (AAAGL) and AirAsia Bhd (AAB) to AAX.
In a statement, Capital A announced that the timeline has been extended by two months, from Jan 25 to March 24, providing both parties additional time to finalise the transaction for AAAGL and AAB.
Notably, all due diligence for both entities has already been successfully completed.
Chief executive officer Tan Sri Tony Fernandes said the group was encouraged by the progress it had made and remained committed to keeping everything 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 February) 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,” he said.
“With key milestones already achieved, including the completion of due diligence for both AirAsia Aviation Group and AirAsia Bhd, as well as the approval from shareholders of both Capital A and AirAsia X in October 2024, we are now in the final sprint.”
Fernandes said 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.
“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,” he added.
