AirAsia X (AAX) has announced its intention to acquire Capital A’s aviation businesses, consisting of a proposed 100% equity acquisition of AirAsia Berhad and AirAsia Aviation Group.
‘The strategic move positions AAX to become the overarching regional aviation provider for all short and medium-haul routes under the AirAsia brand name,’ said the company, describing the acquisitions as being expected to provide a ‘strengthened market position’ and ‘increased operational efficiency’.
“The consolidation under the AirAsia brand as a one-listed entity reflects on our commitment to capitalise on our regained strength and market confidence,” explained AirAsia X Chairman, Dato’ Fam Lee Ee. “Leveraging the strengths of all airlines under the AirAsia brand, we are poised to create a pure-play entity that propels us forward.”
An upcoming announcement on the proposed acquisitions, including their effects on various financial metrics, is expected to be announced in due course (subject to the definitive share sale and purchase agreement and its completion).