Capital A completes aviation business disposal to AirAsia X
Capital A completed (18-Jan-2026) the disposal of its aviation businesses AirAsia and AirAsia Aviation Group to AirAsia X (AAX). The transaction was settled via the allotment and issuance of 2.3 million new AAX shares to Capital A and its entitled shareholders by way of a dividend-in-specie, together with AAX's assumption of MYR3.8 billion (USD936.54 million) previously owed by Capital A to AirAsia. AAX also allotted and issued 606 million placement shares to investors. The consideration shares and placement shares are scheduled to be listed and quoted on the main market of Bursa Malaysia on 19-Jan-2026. The completion of the transaction consolidates all AirAsia branded airlines under a single airline platform, AirAsia Group, while Capital A "pivots to grow its non-aviation portfolio". Capital A stated it will provide further updates as the remaining procedural steps are completed, and on the progress of the PN17 uplift application. AirAsia X stated the consolidation will lead to improved fleet utilisation and "more integrated network planning", noting the group is also finalising additional aircraft orders. [more - original PR - Capital A] [more - original PR - AirAsia X]
Background ✨
Capital A completed several restructuring steps leading up to this consolidation, including a MYR2.7 billion share capital reduction and the planned distribution of AirAsia X shares to its shareholders, with the timeline aligned to AirAsia X's private placement and share listing on 19-Jan-20261 2 3. AirAsia X also considered a company name change to reflect the consolidation but had not made a final decision as of the latest announcement4.