Monday, January 27, 2025 AirAsia X Berhad (AAX) and Capital A Berhad (Capital A) have mutually agreed to extend the timeline for completing AAX’s proposed acquisition of Capital A’s aviation assets. Originally set for 25 January 2025, the new deadline has been moved to 24 March 2025, giving both parties additional time to finalize the deal. The acquisition involves AirAsia Aviation Group Limited (AAAGL) and AirAsia Berhad (AAB), two core entities of Capital A’s aviation operations.
The extended timeframe will also allow AAX to complete negotiations with identified investors for its Proposed Private Placement, an initiative aimed at raising RM1 billion in gross proceeds to bolster the company’s financial position. All due diligence processes related to AAAGL and AAB have already been successfully concluded, paving the way for the next phase of the acquisition. This extension demonstrates a joint commitment to ensuring that the transaction is executed seamlessly, with both companies focused on aligning their long-term strategic interests.
With this acquisition, AAX aims to enhance its market position and expand its growth potential in the competitive aviation sector. The fundraising initiative, coupled with the transaction’s progress, highlights AAX’s focus on building a strong foundation for future success. AirAsia X CEO, Benyamin Ismail said: “We are fast approaching the finish line.
The majority of key milestones in the process have already been achieved includ.