Capital A enters last leg of restructuring with PN17 uplift in view
KUALA LUMPUR, 13 January 2026 – Capital A Berhad (“Capital A” or “the Group”) today provided an update on its ongoing corporate exercises, marking a pivotal moment after six years of restructuring and setting the stage for the next phase of growth.
The update relates to Capital A’s proposed disposal of its aviation business and its intended upliftment from PN17, which together are expected to reposition the Group as a focused non-aviation company with a clean balance sheet and greater strategic clarity.
As part of the restructuring process, the distribution of AirAsia X Berhad (“AirAsia X”) shares to Capital A shareholders is imminent and will take place following the completion of AirAsia X’s RM1 billion private placement. Allocation is expected by Friday, with the enlarged share base anticipated to be listed on the Main Market of Bursa Malaysia Securities Berhad the following Monday.
In line with that, Capital A intends to submit its application for PN17 upliftment on 19 January 2026, with the final court hearing scheduled for 21 January 2026.
Tony Fernandes, CEO of Capital A said, “The past six years have required fundamental change and difficult decisions. That work is now largely complete. These are the final few steps - we will soon be able to put this chapter behind us and move forward from a far stronger foundation.”
With restructuring nearing completion, Capital A will step up engagement with analysts and investors. The Group plans to embark on a series of domestic and international investor roadshows in the coming months to articulate its post-restructuring vision centred around five core businesses – MRO, logistics, OTA, F&B and branding.
In addition, Capital A plans to host an Investor Day after the close of the fourth quarter once there is full visibility on 2025 performance, based on unaudited results. The session will provide deeper insight into the group’s business segments, financial priorities and long-term value-creation plans.