The Star is reporting that Capital A Bhd has entered into a conditional share sale and purchase agreement with AirAsia Group Sdn Bhd (AAG) to dispose of its 100 per cent equity interest in AirAsia Aviation Group Ltd (AAAGL) and AirAsia Bhd (AAB) for RM6.8 billion.
The move will see the formation of a new AirAsia Group, comprising the former AirAsia Aviation Group’s airline units in Malaysia, Thailand, Indonesia and the Philippines, as well as AirAsia X and Thai AirAsia X.
This will make AirAsia the largest low-cost airline group in Asia.
Pursuant to AirAsia X Bhd’s (AAX) proposed internal reorganisation, AAG will assume the listing status of AAX before the completion of the proposed disposals.
CEO of Capital A and Advisor to the newly formed AirAsia Aviation Group, Tony Fernandes said, “Today’s announcement is more than just a transaction, but a unique and time-sensitive opportunity to elevate our aviation business to the next level, while…
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