Capital A Completes Emotional Aviation Exit: AirAsia Brands Consolidated Under AAX

KUALA LUMPUR: Capital A Bhd CEO Tan Sri Tony Fernandes described the disposal of AirAsia Aviation Group Ltd (AAAGL) and AirAsia Bhd (AAB) to AirAsia X Bhd (AAX) on January 16, 2026, as “one of the most emotional moments” of his career, marking the end of the group’s six-year restructuring journey following the Covid-19 crisis.

Emotional Aviation Exit

“This is the culmination of one of the most complex restructuring exercises in aviation history,” Fernandes said. “Giving up was never an option—we rebuilt step by step, and now the aviation chapter is complete. I’m incredibly proud of our Allstars, shareholders, partners, and regulators for proving our resilience.”

Capital A

The deal saw Capital A receive 2.31 billion AAX shares, while AAX assumed RM3.8 billion in debt from AAB. AAX also issued 606.06 million placement shares. These transactions consolidate all AirAsia-branded airlines under one platform, allowing Capital A to focus on its non-aviation ecosystem—ADE, Teleport, AirAsia MOVE, AirAsia Next, and Santan—for sustainable growth.

CFO Teh Mun Hui highlighted the clean balance-sheet transfer and plans to lift the PN17 status promptly upon listing on January 19, 2026.

Business News