High Court confirms Capital A share capital reduction to enable AAX share distribution, restructuring on track

KUALA LUMPUR, 8 DEC - Capital A Berhad (“Capital A”) today announced that the High Court of Malaya has confirmed the reduction of the Company’s issued share capital by RM2,741,538,641.04 as part of the planned distribution of AirAsia X Berhad (“AAX”) shares to the entitled Capital A shareholders. 

This marks one of the final steps before the completion of Capital A’s restructuring, and follows recent milestones including the agreements turning unconditional and the announcement of the entitlement for the dividend-in-specie. 

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 RM 5,507,594,000 and then apply for the uplift of its Practice Note 17 (“PN17”) status. 

Upon completion, all AirAsia airlines will sit under a single airline platform, while Capital A will begin its next journey as a focused, asset-light group built around five high growth businesses - Asia Digital Engineering (MRO), Teleport (logistics), AirAsia MOVE (travel platform), Santan (F&B) and AirAsia Next (brand & loyalty).