PETALING JAYA (Jan 18): AirAsia X Bhd (KL:AAX) has completed the acquisitions of both AirAsia Bhd (AAB) and AirAsia Aviation Group Ltd from Capital A Bhd (KL:CAPITALA), as it consolidates the aviation business of the AirAsia group under one banner.

In a statement, AAX said the consolidation is set to unlock operational and financial efficiencies, including improved fleet utilisation, more integrated network planning and a more resilient operating platform, while leveraging the broader aviation and travel ecosystem developed through Capital A’s group of companies.

“This milestone marks a defining moment for the group. With the consolidation now complete, we have established a stronger, more streamlined aviation platform that is well-positioned for sustainable growth, operational excellence and long-term value creation for all stakeholders.

“The board is confident that this integration will unlock significant synergies and reinforce AirAsia group’s leadership in the region,” said AAX’s chairman Datuk Fam Lee Ee in the statement.

The transaction was settled via the allotment and issuance of 2.31 billion new ordinary shares in AAX to Capital A and its entitled shareholders, together with AAX’s assumption of RM3.8 billion previously owed by Capital A to AAB.

Concurrently, AAX also allotted and issued 606 million new ordinary shares to independent third-party investors pursuant to its private placement. The consideration shares and the placement shares are scheduled to be listed and quoted on the Main Market of Bursa Malaysia Securities Bhd on Jan 19, 2026. 

In a separate statement, Tan Sri Tony Fernandes, chief executive officer of Capital A said that the consolidation process is one of the most emotional moments of his career as the pioneer of the AirAsia group.

“We are finally closing the most challenging chapter in our history. This represents the culmination of one of the most complex and rigorous restructuring exercises undertaken by an aviation group since Covid brought aviation to a standstill six years ago.

“Giving up was not an option, and we chose to rebuild the right way, step by step, approval by approval, and never taking ‘no’ for an answer. Now, the aviation disposal is finally complete,” he said.

Capital A will provide further updates as the remaining procedural steps are completed, and (as to} the progress of the PN17 uplift application, the statement read.

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