KUALA LUMPUR, April 9 ― Capital A Bhd’s sale of AirAsia's aviation business to AirAsia X Bhd (AAX) has been extended to April 30, 2024.

In a filing with Bursa Malaysia, Capital A said the group and AAX have mutually agreed to extend the negotiation period to execute the definitive agreement until the end of this month.

Capital A plans to dispose of its entire stake in AirAsia Bhd (AAB), a wholly-owned subsidiary of the group, and its 100 per cent equity interest in AirAsia Aviation Group Ltd (AAAGL).

AAAGL operates passenger airline services through subsidiaries in Thailand, Indonesia, the Philippines and Cambodia.

On January 8, 2024, Capital A entered into a non-binding letter of offer with AAX for the proposed disposal of its aviation business.

As at 3.10pm, AAX shares were traded one sen lower at RM1.29 with 766,000 shares changing hands. Capital A’s shares were unchanged at 70 sen with a volume of 4.55 million. ― Bernama