KUALA LUMPUR (April 9): The negotiation period for Capital A Bhd’s sale of AirAsia’s aviation business to AirAsia X Bhd (AAX) has been extended for the second time to April 30, 2024, the two listed companies said.
Capital A and AAX have mutually agreed to extend the negotiation period for the sale of the aviation subsidiaries, namely AirAsia Bhd (AAB) and AirAsia Aviation Group Ltd (AAAGL), their respective filings showed.
The negotiation period, which was initially set for two months, was first extended to April 15.
AAB runs AirAsia group’s Malaysian airline business, while AAAGL houses the group’s operations in Thailand, Indonesia, the Philippines and Cambodia.
The proposed sale of the airline business by Capital A to AAX is a precursor for Capital A to present a regularisation plan to Bursa Securities by June 30, to exit the Practice Note 17 status amid its negative total equity position.
Sale of AAB and AAAGL, which sources said Capital A is valuing at around RM5…
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