AirAsia X completes acquisition of AirAsia Berhad and AirAsia Aviation Group Limited from Capital A

KUALA LUMPUR, 18 January 2026 – AirAsia X Berhad (“AirAsia X” or “the Company”) announced that it has successfully completed the acquisition of both AirAsia Berhad (“AAB”) and AirAsia Aviation Group Limited (AAAGL) from Capital A Berhad (“Capital A”) as it reaches the finishing line in the consolidation of the aviation group.

The transaction was settled via the allotment and issuance of 2,307,692,307 new ordinary shares in AirAsia X (“Consideration Shares”) to Capital A and its entitled shareholders, together with AirAsia X’s assumption of RM3.8 billion previously owed by Capital A to AAB. Concurrently, AirAsia X also allotted and issued 606,060,606 new ordinary shares to independent third-party investors pursuant to its private placement (“Placement Shares”). The Consideration Shares and the Placement Shares are scheduled to be listed and quoted on the Main Market of Bursa Malaysia Securities Berhad on 19 January 2026.  

The completion of this transaction consolidates all AirAsia-branded airlines under a single airline platform (AirAsia Group) while Capital A pivots to grow its non-aviation portfolio.  

AirAsia X Chairman, Dato' Fam Lee Ee, said: “This milestone marks a defining moment for the Group. With the consolidation now complete, we have established a stronger, more streamlined aviation platform that is well-positioned for sustainable growth, operational excellence and long-term value creation for all stakeholders. The Board is confident that this integration will unlock significant synergies and reinforce AirAsia Group’s leadership in the region.”

The consolidation is set to unlock operational and financial efficiencies, including improved fleet utilisation, more integrated network planning and a more resilient operating platform, while leveraging the broader aviation and travel ecosystem developed through the Capital A’s group of companies.

The Group is also finalising additional aircraft orders to scale our reach, connecting the world to Asean and Asean to the world. This expansion is the engine behind our low-cost network model ambition, supported by a relentless focus on maintaining a highly competitive cost base.

The Group’s focus remains on scaling with discipline, ensuring the business is well positioned to operate reliably, respond to demand and continue offering accessible air travel over the long term, while creating sustainable value for shareholders.