Capital A and AirAsia X agree on formation of AirAsia Aviation Group

Capital A and the AirAsia Group, a newly incorporated entity, has signed an agreement for ‘Capital A’s strategic divestment and AirAsia Group’s strategic acquisition of its aviation businesses’. This milestone agreement is ‘expected to catalyse AirAsia to its next growth phase to become the world’s first low-cost network carrier’, conglomerating existing airline subsidiaries into one united business. The divestment of the AirAsia Group (including its subsidiaries in Thailand, Indonesia, the Philippines and Cambodia) will be fulfilled through the issuance of new AirAsia Group shares to Capital A worth RM3 million ($0.62 million). After the proposed divestment is completed, Capital A