AirAsia X (AAX) has entered into a non-binding letter of acceptance with Capital A for the proposed acquisitions of its aviation businesses, namely AirAsia Berhad and AirAsia Aviation Group Limited.
The strategic move positions AAX to become the overarching regional aviation provider for all short and medium-haul routes under the AirAsia brand name. AirAsia X said the acquisition is expected to provide unparalleled advantages, including a strengthened market position, increased operational efficiency, and ultimately driving cost savings and enhanced financial performance.
The decision to combine the airline businesses through these acquisitions leverages AAX’s robust recovery trajectory after its upliftment from the Practice Note 17 (PN17) status in November 2023.
AirAsia X Chairman, Dato’ Fam Lee Ee said: “These strategic acquisitions serve as pivotal milestones in AAX’s post-PN17 revival strategy, bolstering our financial stability and enhancing our market positioning….
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