Capital A meets all conditions for disposal of airline business to AirAsia X
Capital A announced (30-Oct-2025) all conditions required for the disposal of its airline business have now been met, adding sale and purchase agreements with AirAsia X have turned unconditional. This follows the fulfilment of all outstanding requirements and all stakeholder consent letters, with MYR1 billion (USD238.24 million) private place commitment letters for AirAsia X now secured. The parties will proceed with the remaining steps, which are Capital A's capital reduction and distribution, the allotment and listing of AirAsia X's shares, and other procedural requirements. These are expected to be completed by Dec-2025, which will be followed by the PN17 uplift application in the same month. Capital A CEO Tony Fernandes stated: "We will begin our next journey with the two distinct companies. The airline group, which will be called AirAsia Group, will bring together all seven AirAsia airlines - medium and short haul - under one platform to operate as one network across the region". Mr Fernandes added: "Capital A will focus on expanding its five high-potential, high-growth travel and digital companies". [more - original PR]
Background ✨
A key legal requirement in Thailand was waived to facilitate the transaction, allowing the share sale and purchase agreement to become unconditional by the end of Oct-2025, with completion targeted for Dec-2025. AirAsia X's 40.71% stake in Asia Aviation Public Company Limited remained unchanged during this process1. The deadline for the disposals was previously extended to 31-Oct-2025 to enable Capital A to seek PN17 status removal by year end2.