Tune Group Sdn. Bhd. ceases to be a substantial shareholder in AirAsia X Berhad in line with conditions set out in the circulars to shareholders in AirAsia’s aviation business consolidation

KUALA LUMPUR, 6 January 2026 – AirAsia X Berhad ("AirAsia X" or "the Company") today announced that Tune Group Sdn. Bhd. has ceased to be a substantial shareholder of the Company following the disposal of 66,829,975 ordinary shares.

As part of the final stages of AirAsia’s aviation business consolidation exercise, the aforesaid cessation is a result of a disposal of shares via a Direct Business Transaction and was executed pursuant to the undertaking by Capital A Berhad (“Capital A”) and its persons acting in concert (PACs) to reduce their collective shareholding in AirAsia X to below 33% in order not to trigger any take-over obligations in the Rules on Take-overs, Mergers and Compulsory Acquisitions issued by the Securities Commission Malaysia. 

A matter of process, this disposal of shares by Tune Group Sdn Bhd aligns with the conditions set out in the circulars to shareholders dated 24 September 2024 and 20 September 2024, in relation to AirAsia X's Proposed Private Placement and Capital A's Proposed Distribution respectively.

Upon completion of the Proposed Acquisition by AirAsia X of 100% equity interest in AirAsia Aviation Group Limited and AirAsia Berhad as well as the Proposed Private Placement and Capital A’s Proposed Distribution, the co-founders, Tan Sri Tony Fernandes and Datuk Kamarudin Meranun will continue to be substantial shareholders via their direct and indirect interests in AirAsia X.