AirAsia Group Berhad is proposing changing its name to Capital A Berhad to better reflect its expanded operations. AirAsia stated that the name change aligns with “a new corporate identity that offers a better reflection of the Group’s core business and its future undertakings in tandem with its rapid transformation as it has gone beyond its beginnings as an airline into a digital travel and lifestyle services group which continues to gain strong momentum”.
AirAsia Group notes that such a structural change would help facilitate strong projected growth in its portfolio businesses, with the name change setting the tone for the Group as “it expands into new horizons and allay concerns of being a group that was intrinsically an airline”.
The proposed change of name will not have any effect on the share capital of the company and
will also not affect the existing brands and subsidiaries within the Group such as AirAsia (the airline), airasia Super App etc.
The proposed change of name, to be tabled at the forthcoming EGM, is subject to the approval being obtained from the shareholders of AirAsia Group Berhad.
Meanwhile, in a monthly update to stakeholders, Air Asia X has confirmed that the company remains in the “midst of regularising its financial position via the Proposed Debt Restructuring, Proposed Corporate Restructuring and Proposed Fundraising and thereafter, the Company will implement a revised business plan to turnaround its financial performance. After the completion of these proposals, the Company will submit a regularisation plan pursuant to PN17 of the Listing Requirements to regularise its condition.”
AirAsia X has approximately 10 months to submit the regularisation plan to the relevant authorities for approval.