AirAsia X (AAX) announced that it has entered into a non-binding letter of acceptance with Capital A for the proposed acquisitions of AirAsia Berhad and AirAsia Aviation Group Limited.
Capital A chief executive officer Tony Fernandes said the sale of the aviation business would see AirAsia X merging with AirAsia Bhd (AirAsia Malaysia) and AirAsia Aviation Group Ltd (AAGL). AAGL consists of AirAsia subsidiaries in Thailand, Indonesia, the Philippines and Cambodia.
“The strategic move positions AAX to become the overarching regional aviation provider for all short and medium-haul routes under the AirAsia brand name. This groundbreaking acquisition is expected to provide unparalleled advantages, including a strengthened market position, increased operational efficiency, and ultimately driving cost savings and enhanced financial performance,” AirAsia X said in a statement.
AirAsia X Chairman Fam Lee Ee said: “These strategic acquisitions serve as pivotal milestones in AAX’s…
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