KUALA LUMPUR, Dec 9 — The High Court has confirmed Capital A Bhd’s proposed reduction of issued share capital by RM2.74 billion, clearing the way for the planned distribution of AirAsia X Bhd (AAX) shares to eligible Capital A shareholders.
In a statement yesterday, the group said the move represented one of the final steps in its restructuring, following recent milestones including the unconditionalisation of agreements and the announcement of the dividend-in-specie entitlement.
“Capital A remains on track to complete the disposal of aviation and distribution by December 2025. All of the planned Capital A restructuring end-phase actions are progressing steadily.
“With this approval in hand, the next steps will be to distribute AAX shares to Capital A shareholders, obtain an order from the High Court of Malaya for the capital pursuant to the Regularisation Plan by RM5.51 billion and then apply for the uplift of its Practice Note 17 (PN17) status,” Capital A said.
Once complete, all AirAsia airlines will operate under a single airline platform, while Capital A will begin its next phase as a focused, asset-light group centred on five high-growth businesses: Asia Digital Engineering, Teleport, AirAsia MOVE, Santan and AirAsia Next. — Bernama
