AAX chief executive officer Benyamin Ismail.
PETALING JAYA: AirAsia X
(AAX) Bhd is confident of improved efficiency in its operations to bolster its competitiveness in key markets, following its shareholders’ approval for the acquisition of Capital A Bhd’s aviation business.
At an EGM yesterday, the group obtained the green light from over 99% of its shareholders for the proposed purchase of Capital A’s entire equity interest in the aviation business within AirAsia Aviation Group Ltd and AirAsia Bhd for RM6.8bil.
In a statement after the EGM, AAX said the strong shareholder support is crucial in its vision to capitalise on new market opportunities, strengthen operational synergies and expand its service offerings.
“This pivotal decision clears the path for AAX’s transformative acquisition which is expected to be completed by the end of the year as an enlarged aviation group, subject to final court and regulatory approvals,” it said.
AAX chairman Datuk Fam Lee Ee said the unanimous approval from the group’s shareholders marked a pivotal moment for AAX as it takes a bold step to shape the future of low-cost travel.
“This acquisition will give us access to over 200 existing aircraft and 361 future aircraft order books from Capital A’s aviation portfolio, combining both narrow-body and wide-body aircraft into a unified group, enabling us to expand our reach across long, medium, and short-haul segments.
“With this enhanced fleet, we can operate more efficiently, offer better service to our guests, and strengthen our competitive position in key markets,” he said.
Fam said the group’s focus would be on sustainable expansion and innovation, driving greater value for its clients and shareholders.
The enlarged aviation group is poised to capture more growth opportunities while building a sustainable business model.
AAX chief executive Benyamin Ismail said the group is on the brink of a transformative shift.
He said it would unite medium and short-haul operations, turning AAX into a powerful low-cost carrier network that will bring the world to Asean and vice versa.
“We will prioritise sustainable expansion, operational excellence and innovation, ensuring that AirAsia continues to lead in the low-cost market,” he pointed out.
With over 23 years of experience in building market-leading airlines and multi-hub operations, Benyamin said AAX is not only better positioned to seize market opportunities but also strengthen its competitive edge in building a future-ready airline.
AAX said the proposed acquisition represented its long-term strategy to emerge stronger and more competitive in the global aviation industry.
“The consolidation will significantly enhance network capacity and strengthen connectivity, offering guests a wider array of destinations and travel options for leisure and business,” it said.
