AirAsia X to convene EGM, moving closer towards the completion of its transformative aviation acquisition proposal

SEPANG, 18 September 2024 – AirAsia X (AAX or the Company) has announced that the Company has obtained clearance from Bursa Malaysia Securities Berhad (Bursa Malaysia) for the Extraordinary General Meeting (EGM) Circular for shareholders detailing the proposed acquisition of Capital A Berhad’s aviation business. This brings the Company closer to completing the acquisition of AirAsia Aviation Group Limited and AirAsia Berhad to form a new aviation group.

Following this approval, AAX will convene an EGM in approximately three weeks’ time from the date of despatch of EGM Circular, at a date to be announced soon, where shareholders’ approval will be sought for the Proposed Acquisition. 

Bursa Malaysia’s clearance of the circular and related share listings represents a pivotal step towards the completion of this transformative acquisition. Once finalised, the new aviation group will operate with a more streamlined structure, enhanced market reach, and improved operational synergies, driving long-term growth, profitability, and increased returns for shareholders. 

Dato’ Fam Lee Ee, Chairman of AirAsia X said: “Bursa Malaysia’s clearance marks a pivotal milestone as we move closer to finalising this transformative acquisition. By integrating AirAsia’s extensive network with AAX’s medium-haul capabilities, we are set to unlock significant synergies that will not only streamline our operations but are projected to increase revenue and reduce operating costs. This acquisition is a strategic step that positions us to capture greater market share in the region and drive sustainable growth.

“The upcoming EGM will be a critical opportunity for our shareholders to shape the future of AAX. We are excited about the prospects that this acquisition will bring, enabling us to create a more robust and efficient airline group that meets the evolving needs of our guests while enhancing shareholder returns.”