Petaling Jaya: AirAsia X BHD (AAX) has signed a mutual agreement with Capital A BHD to extend the time -limit to complete the proposed acquisition of Capital A. .
The deadline has been extended from 25 January to 24 March, giving both sides additional time to finalize the transaction for AAAGL and AAB. During this period, the AAX will also finalize fixed terms with investors identified for proposed private placements, aimed at raising a gross income of RM1 billion. All appropriate diligence processes have been finalized for both institutions.
AirAsia X CEO Benyamin Ismail said: “We are rapidly getting closer to the termination line. Most of the important milestones have already been achieved in this process, including unanimous approval of our shareholders in the extraordinary general meeting held in October 2024.
“This expansion is a practical step to ensure that all aspects of the transaction are fully and carefully addressed, including the final approval and consent from the concerned authorities, financials and lessers – most of which – most of which most of which Already have been completed to a great extent.
“We hope that the proposed transactions are completed, as a strong unit of all AirAsia branded airlines will have a game changer for the integration industry, which will pave the way for a revolution in the future of low -cost air travel.”
Proposed acquisitions are expected to open significant synergy, including advanced network connectivity, use of customized fleet and better cost efficiency. By consolidating operations under one unit, the airline will be in a better position to expand its presence in the entire Asia-Pacific and beyond, providing higher value to shareholders and customers.
