AirAsia X Berhad has successfully completed the acquisition of AirAsia Berhad and AirAsia Aviation Group Limited from Capital A Berhad, marking the final step in the long-planned consolidation of the AirAsia aviation businesses. The completion of the transaction brings all AirAsia-branded airlines under a single airline platform, now collectively operating as the AirAsia Group, while Capital A pivots its focus toward expanding its non-aviation portfolio.
The acquisition was settled through the allotment and issuance of 2,307,692,307 new ordinary shares in AirAsia X to Capital A and its entitled shareholders. In addition to the share issuance, AirAsia X assumed RM3.8 billion in liabilities previously owed by Capital A to AirAsia Berhad. Alongside the acquisition, AirAsia X also completed a private placement, issuing 606,060,606 new ordinary shares to independent third-party investors to strengthen its capital position.
Both the consideration shares issued to Capital A and the placement shares issued to new investors are scheduled to be listed and quoted on the Main Market of Bursa Malaysia Securities Berhad on 19 January 2026. The listing represents a significant milestone for AirAsia X as it transitions into a more unified and streamlined aviation group with enhanced scale and operational focus.
With the consolidation now complete, the AirAsia Group operates as a single, integrated airline platform, bringing together short-haul and long-haul operations under one corporate structure. This integration is expected to deliver substantial operational and financial efficiencies, including improved fleet utilization, more coordinated network planning, and a more resilient operating platform. By aligning resources and strategies across the group, AirAsia aims to strengthen its competitive position in the regional and international aviation markets.
The consolidated group is also positioned to benefit from the broader aviation and travel ecosystem developed under Capital A’s portfolio of companies. These synergies are expected to support more efficient operations, enhance customer offerings, and create new opportunities across the value chain, from air travel to ancillary services.
As part of its growth strategy, the AirAsia Group is in the process of finalizing additional aircraft orders to support network expansion. The group aims to scale its reach by strengthening connectivity within ASEAN, linking ASEAN to key global markets, and expanding long-haul services. This expansion underpins the group’s low-cost network model, which is built on maintaining a highly competitive cost base while offering extensive route options to passengers.
Despite its growth ambitions, the group has emphasized a disciplined approach to scaling. The focus remains on ensuring operational reliability, responding effectively to market demand, and maintaining affordability in air travel over the long term. By balancing expansion with cost control and operational efficiency, the AirAsia Group aims to create sustainable value for shareholders while continuing to make air travel more accessible across the region and beyond.