AirAsia changes name to Capital A as it grows beyond an airline

FILE PHOTO: Airasia planes are seen parked at Kuala Lumpur International Airport 2, amid the coronavirus disease (COVID-19) outbreak in Sepang, Malaysia October 6, 2020. REUTERS/Lim Huey Teng

(Reuters) -Malaysia's AirAsia Group Bhd said on Friday it had changed its name to Capital A Bhd to reflect its growing portfolio of businesses beyond the core budget airline.

The airline business has been hard-hit during the pandemic due to strict travel rules in Asia, leading Malaysia's stock exchange to this month classify the firm as financially distressed though it has been raising funds to bolster its balance sheet.