KUALA LUMPUR, Dec 9 — The High Court has confirmed Capital A Bhd’s proposed reduction of issued share capital by RM2.74 billion, clearing the way for the planned distribution of AirAsia X Bhd (AAX) shares to eligible Capital A shareholders.
In a statement today, the group said the move is one of the final steps in its restructuring, following recent milestones including making agreements unconditional and announcing a dividend-in-specie entitlement.
“Capital A remains on track to complete the disposal of aviation and distribution by December 2025. All of the planned Capital A restructuring end-phase actions are progressing steadily.
“With this approval in hand, the next steps will be to distribute AAX shares to Capital A shareholders, obtain an order from the High Court of Malaya for the capital pursuant to the Regularisation Plan by RM5.51 billion, and then apply for the uplift of its Practice Note 17 (PN17) status,” Capital A said.
Once complete, AirAsia airlines will operate under a single airline platform, while Capital A will start its next phase as a focused, asset-light group centred on five high-growth businesses — Asia Digital Engineering, Teleport, AirAsia MOVE, Santan, and AirAsia Next.
