Capital A has completed the sale of its aviation businesses to AirAsia X, marking a key step in its corporate restructuring strategy. The move consolidates the group’s airline operations under AirAsia X while slightly reducing Capital A’s direct stake in the long-haul carrier. The transaction is aimed at streamlining operations and strengthening the group’s financial position.
Disposal Completed
According to a Bursa Malaysia filing, Capital A finalised the disposal of AirAsia Aviation Group and AirAsia on January 16, formally transferring its aviation assets to AirAsia X.
Share-Based Settlement
The deal was settled through the issuance of around 2.3 billion AirAsia X shares to Capital A and its shareholders, reflecting a non-cash restructuring approach.
Debt Assumption
As part of the transaction, AirAsia X assumed MYR3.8 billion (USD937.2 million) in debt previously owed by Capital A to AirAsia Berhad, easing Capital A’s balance sheet.
Role of AirAsia Aviation Group
AirAsia Aviation Group serves as the holding vehicle for all non-Malaysian joint ventures operating under the AirAsia brand, making it a central component of the transfer.
Fresh Capital Raised
Alongside the acquisition, AirAsia X completed a private placement, issuing 606 million new shares to raise MYR1 billion (USD246.6 million) to support its expanded operations.
Market Listing Update
Both the consideration shares issued to Capital A and the placement shares were officially listed on January 19.
