AirAsia X clarifies it's mulling name change, but no final decision made yet

Friday 16 Oct 2026

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KUALA LUMPUR (Jan 14): AirAsia X Bhd (KL:AAX) has clarified that it is exploring a possible name change to reflect the consolidation of AirAsia Group's aviation business on completion of its acquisition of AirAsia Bhd and AirAsia Aviation Group Ltd, but no definitive decision has been made yet.

"At this juncture, no definitive decision has been made, and no application has been submitted to the relevant authorities in respect of the proposed change of name. Any such proposal remains subject to internal deliberations, board of directors' approval, regulatory approvals and shareholders’ approval, where applicable," it said in a bourse filing on Wednesday.

“The company will make the requisite announcements, if any, in due course,” the filing added.

The clarification came a day after AirAsia X chief executive officer Tan Sri Tony Fernandes announced via a LinkedIn post that, "AirAsia X would soon be renamed AirAsia and will be a new quoted stock on the [Jan] 19th".

He also said that Capital A Bhd (KL:CAPITALA) would submit its application to Bursa Malaysia for upliftment from the Practice Note 17 (PN17) status.

“AirAsia will be one airline group and one brand. We will consolidate AirAsia X and AirAsia as a single airline group with global ambitions. With our hub in Bahrain, we plan to build low-cost operations in the UAE [United Arab Emirates] and Qatar, and expand to all continents,” Fernandes added.

His remarks came as Capital A confirmed that the distribution of AirAsia X shares to its shareholders would take place on Friday, Jan 16, paving the way for its PN17 upliftment application.

The share distribution is a key component of Capital A’s regularisation plan to exit PN17 status. Under the plan, AirAsia X will acquire Capital A’s aviation businesses — AirAsia Aviation Group Ltd (AAAGL) and AirAsia Bhd — for RM6.8 billion, consolidating all short- and medium-haul AirAsia carriers under a single listed entity.

Prior to the share distribution, AirAsia X will undertake a RM1 billion private placement, which has been fully subscribed by institutional and private investors.

Capital A sells 17 million AirAsia X shares

Meanwhile, Capital A said in a separate filing that it had disposed of 17 million AirAsia X shares via direct business transactions on Wednesday for RM28.05 million, cash.

The price per share of RM1.65 was based on a willing-buyer, willing-seller basis, and is the same as the price set in AirAsia X’s recent private placement, it noted. The price represents a discount of more than 7% to AAX’s closing price of RM1.78 on Jan 14. The filing, however, did not identify the buyers.

Capital A said the disposal was part of its and its concert parties’ plan to cut their collective stake in AirAsia X to below 33%, avoiding any mandatory takeover obligations ahead of AAX’s private placement and Capital A’s distribution of consideration shares.

Following the sale, Capital A’s stake in AirAsia X fell to 8.96% from 12.77%.

Fernandes and AirAsia X non-executive chairman Datuk Kamarudin Meranun remain among the substantial shareholders through their deemed interests in Capital A and Tune Group Sdn Bhd, which together hold 10.6% of AirAsia X. Fernandes holds a direct 2.5% stake, while Kamarudin holds 8.2%.

Nuodingyan Travel Service Sdn Bhd, a Kota Kinabalu-based travel agency wholly owned by Sophia Lee Suk Fei, is the third substantial shareholder with a 14.9% stake.

Proceeds from the share disposal will be used for the group’s working capital requirements over the next 12 months, said Capital A, including trade and other payables, employee costs, marketing, and administrative expenses.

Shares in Capital A ended 10.5 sen or 23.9% higher at 54.5 sen, giving the company a market capitalisation of RM2.42 billion. AirAsia X gained six sen or 3.5% to close at RM1.78, valuing the airline at RM795.8 million.

Edited ByTan Choe Choe

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