Capital A chief executive officer Tan Sri Tony Fernandes
KUALA LUMPUR: Capital A Bhd
has won shareholders’ vote of confidence on its strategy as it progressed from an airline to low-cost, high-value, inclusive aviation and travel group.
Chief executive officer Tan Sri Tony Fernandes said all businesses within the group have benefited from the robust return of air travel and delivered stronger margin levels.
"As we overcame all odds of not only surviving but growing, despite the unprecedented challenges of Covid and other macroeconomic headwinds without any government support, we are proud to announce that we have successfully progressed from an airline to now a low-cost, high-value inclusive aviation and travel group,” he said in a statement today.
Tony said for the aviation group, AirAsia Malaysia, AirAsia Thailand, AirAsia Indonesia and AirAsia Philippines are flying high again with 157 aircraft reactivated as of the first quarter of 2023 with enhanced profitability amid rationalised airfares and stabilising external factors.
"229 routes activated with target to operate 290 as of fourth quarter (Q4) 2023.
"We are expanding across Asean based on a wide network and a strong brand with the launch of AirAsia Cambodia expected to start operating in Q4, we are looking for opportunities in the remaining Asean countries that deserve an airline,” he said.
He said Teleport, the logistics venture of Capital A, has continued to deliver value through diverse service portfolios, including cargo, e-commerce and express delivery.
"We are expecting additional capacity with the delivery of the first of the three new A321F dedicated freighters in June, aiming to further tap into the tremendous network to offer accessible, affordable and inclusive logistics service and become the market leader in Asean,” he said.
On the company’s Practice Note 17 (PN17) status, he said Capital A have reported to Bursa Malaysia that an interim financial review is presently being carried out as part of the evaluation of the PN17 regularisation plan prior to any regulatory submission
"The company will make an immediate announcement once the plan has been finalised,” he said.
Looking forward, he said over the past few years, Capital A have focused on building a more resilient and diversified business model including the implementation of separate dedicated boards to drive the success of its core businesses.
"We are excited to expand our horizons and seek promising fundraising opportunities that lie ahead for Capital A,” he added. - Bernama
