Capital A said it will seek the country’s High Court’s confirmation for the capital reduction plan.
KUALA LUMPUR: Capital A Bhd
, which owns airline AirAsia, says its shareholders and debtholders have approved a capital reduction plan of up to RM6bil, as the company aims to shrug off its “financially distressed” tag.
Capital A was severely impacted by pandemic-era travel curbs and its equity declined to below 50% of subscribed capital, due to which it was designated as a Practice Note 17 (PN17) financially distressed entity by Malaysia’s stock exchange in 2022.
