AirAsia X Moves Closer to Transformative Aviation Acquisition Proposal

AirAsia X (AAX) has announced that the Company has obtained clearance from Bursa Malaysia Securities Berhad (Bursa Malaysia) for the Extraordinary General Meeting (EGM) Circular for shareholders detailing the proposed acquisition of Capital A Berhad’s aviation business. This brings the Company closer to completing the acquisition of AirAsia Aviation Group Limited and AirAsia Berhad to form a new aviation group.

AAX Obtains Approval

Following this approval, AAX will convene an EGM in approximately three weeks’ time from the date of despatch of EGM Circular, at a date to be announced soon, where shareholders’ approval will be sought for the Proposed Acquisition. Bursa Malaysia’s clearance of the circular and related share listings represents a pivotal step towards the completion of this transformative acquisition. Once finalised, the new aviation group will operate with a more streamlined structure, enhanced market reach, and improved operational synergies, driving long-term growth, profitability, and increased returns for shareholders.

Dato’ Fam Lee Ee, chairman of AirAsia X said: “Bursa Malaysia’s clearance marks a pivotal milestone as we move closer to finalising this transformative acquisition. By integrating AirAsia’s extensive network with AAX’s medium-haul capabilities, we are set to unlock significant synergies that will not only streamline our operations but are projected to increase revenue and reduce operating costs. This acquisition is a strategic step that positions us to capture greater market share in the region and drive sustainable growth. The upcoming EGM will be a critical opportunity for our shareholders to shape the future of AAX. We are excited about the prospects that this acquisition will bring, enabling us to create a more robust and efficient airline group that meets the evolving needs of our guests while enhancing shareholder returns.”