KUALA LUMPUR (April 24): AirAsia X Bhd (KL:AAX) has proposed changing its name to AirAsia Group Bhd to reflect its expanded role as the listed holding company for the wider airline group following the completion of its acquisition of Capital A Bhd’s (KL:CAPITALA) aviation businesses.
In a Bursa Malaysia filing on Friday, AAX said the proposed name had been approved for reservation by the Companies Commission of Malaysia (SSM) on Feb 24.
The change of name is subject to shareholders’ approval at the company’s forthcoming annual general meeting.
If approved by the shareholders, the name change will take effect upon the issuance of the notice of registration of the new name by the SSM.
In January, AAX completed the acquisitions of AirAsia Bhd and AirAsia Aviation Group Ltd from Capital A, consolidating the AirAsia group’s short- and medium-haul airline operations under a single listed entity.
The aviation business carve-out, first announced in 2024, was also a central component of Capital A’s plan to regularise its financial position and exit its Practice Note 17 (PN17) status.
The transaction was settled via the issuance of 2.31 billion new AAX shares to Capital A and its entitled shareholders, alongside AAX’s assumption of RM3.8 billion in debt previously owed by Capital A to AirAsia Bhd.
The enlarged group has since begun reporting consolidated operating data. For the first quarter ended March 31, 2026, it posted a 9% year-on-year increase in passenger numbers to 18.9 million, with capacity recovering to 98% of pre-pandemic levels and load factor steady at 85%.
Domestic markets in Malaysia, Thailand, Indonesia and the Philippines recorded double-digit growth in passenger traffic and capacity, while North Asia routes remained resilient, supported by demand for travel between China and Asean.
For the financial year ended Dec 31, 2025 (FY2025), AAX reported net profit of RM191.7 million, slightly down from RM229.1 million a year earlier, while revenue increased to RM3.3 billion.
The group has guided for RM25 billion in revenue and RM5 billion in earnings before interest in FY2026, with passenger numbers targeted to rise 15% to 79 million for the enlarged airline group.
AAX shares rose two sen or 1.63% to close at RM1.25 on Friday, valuing the group at RM4.20 billion. Year to date, the stock is down more than 30%.