KUALA LUMPUR (Dec 6): Capital A Bhd has clarified that the proposed plan is not a merger of AirAsia Bhd and AirAsia X Bhd, but a potential disposal of Capital A’s aviation assets to AirAsia X.
The group said the exercise is aimed at forming a separate publicly quoted aviation group comprising six airlines — four short-haul Asean airlines and two medium-haul airlines, namely AirAsia, Thai AirAsia, AirAsia Indonesia, AirAsia Philippines, AirAsia X and Thai AirAsia X.
The company made the clarification in a Bursa Malaysia filing after local news outlets reported that Capital A chief executive officer Tan Sri Tony Fernandes had said there would be no merger of AirAsia’s aviation arm businesses into one new entity but instead all aviation operations would be injected under one existing structure.
Capital A’s share price rose 1.5 sen or 2.63% to close at 58.5 sen on Tuesday (Dec 6), with a market capitalisation of RM2.43 billion.
AirAsia X’s share price remained unchanged at 44.5 sen with a market capitalisation of RM182.54 million.
- Proposed merger of TMB and Thanachart goes to Finance
- Narrowed focus for bank mergers
- Paramount selling Sri KDU Campus, asset to be injected into syariah-compliant REIT
- Explainer: Why Siemens-Alstom rail merger is creating European tensions
- AirAsia sells Merah Aviation Asset for RM3.22b
- AirAsia shareholders approve US$768m deal with Castlelake
- Market hails proposed bank merger
- AirAsia shareholders back airline, Fernandes
- Singapore Myanmar Investco in share sale agreement to dispose unit for US$10.8m
- Husky sees MEG as potential 'hand-in-glove' Canada oil sands merger
- Singapore’s competition watchdog sets interim measures for Grab-Uber merger
- Alliance Mineral secures A$20m debt facility, A$20m standby credit for ASX dual listing
- Shaktikanta Das defends placing Lakshmi Vilas under PCA
- Barrick makes $18B hostile bid for Newmont as talks on partnership crumble
- BB&T to buy SunTrust in biggest US bank deal in a decade
- UMW sells Shah Alam land for RM287.7m
- Global funds in revival talks with Altico lenders
- CapitaLand to combine Ascott Reit and A-H Trust
- Genting Malaysia downplays Empire Resorts liquidity crunch
- Prem Watsa keeps faith in Greek bank that’s only caused him pain
Proposal is not a merger, but disposal of assets to AirAsia X, clarifies Capital A have 340 words, post on www.theedgemarkets.com at December 6, 2022. This is cached page on Business News. If you want remove this page, please contact us.