Capital A can exit PN17 before branding biz carve-out, says FernandesCapital A Bhd (KL:CAPITALA) said it no longer needs to carve out its branding business to achieve the positive equity position necessary to exit the Practice Note 17 status.
Instead, the proposed sale of its aviation business to AirAsia X Bhd (KL:AAX) will be sufficient, Capital A Chief Executive Officer Tan Sri Tony Fernandes told The Edge in an interview. The priority right now is to fix the airline business, he said.