Tan Sri Tony Fernandes.
KUALA LUMPUR: AirAsia X Bhd
will be renamed AirAsia from Jan 19 as low-cost carrier AirAsia reaches the final stages of its restructuring to consolidate all aviation businesses under a single entity, according to its founder Tan Sri Tony Fernandes.
“AirAsia will be one airline group and one brand,” Fernandes said in a Linkedin post yesterday. AirAsia X – which currently only operates long-haul AirAsia flights – is currently in the midst of completing its RM6.8bil acquisition of short-haul aviation businesses from sister company Capital A Bhd.
Capital A will also apply to be removed from its financially distressed classification on the same day, Fernandes said. Capital A has been classified as PN17, a category for financially distressed companies established by Bursa Malaysia since the pandemic.
Following the disposal of the airline business, Capital A will be a holding company for the group’s non-aviation businesses.
AirAsia is finalising new aircraft orders, which will reduce its costs and increase its margin, Fernandes said. The founder is aiming for a 30% margin on earnings before taxes, depreciation, and amortisation, and aims to “double the stock price very soon”.
Separately, AirAsia X said it has fully secured its RM1bil private placement at RM1.65 per share.
The placement was fully subscribed by a broad mix of institutional and private investors as the company enters the final stage of its aviation restructuring.
“The completion of this placement represents a key step towards the formation of the enlarged AirAsia group,” said AirAsia X in a statement yesterday.
The budget long-haul airline said the transaction is scheduled to be completed on Jan 19, 2026, with the new shares to be listed on the Main Market of Bursa Malaysia on the same day. — Agencies
