Malaysian airline AirAsia X has announced its intention to rebrand as AirAsia Group Bhd, following its acquisition of the aviation businesses of Capital A Bhd. This strategic move aims to consolidate the group’s operations under a single, publicly listed entity, reflecting its expanded scope in the airline industry.
In a recent Bursa Malaysia filing, the company confirmed that the renamed entity had received reservation approval from the Companies Commission of Malaysia (SSM). The name change is subject to shareholder approval at the upcoming annual general meeting and will officially take effect upon the registration of the new name by the SSM.
Back in January, AirAsia X completed the acquisition of AirAsia Bhd and AirAsia Aviation Group Ltd from Capital A, creating a unified group operating short- and medium-haul airlines across Asia. This move was part of Capital A’s broader plan to improve financial stability and exit its Practice Note 17 (PN17) status.
The transaction involved issuing 2.31 billion new AAX shares to Capital A shareholders and assuming RM3.8 billion in debt. The combined group has begun reporting consolidated operational data, with the first quarter of 2026 showing a 9% year-on-year passenger increase to 18.9 million. Capacity has recovered to 98% of pre-pandemic levels, with an 85% load factor.
Passenger traffic in Malaysia, Thailand, Indonesia, and the Philippines rose significantly, with North Asian routes remaining resilient due to demand between China and ASEAN countries. For FY2025, AAX reported a net profit of RM191.7 million on revenue of RM3.3 billion. The group projects revenue of RM25 billion and earnings before interest and taxes of RM5 billion in FY2026, with a target of passenger numbers increasing by 15% to 79 million.
Shares of AAX increased to RM1.25, valuing the company at RM4.2 billion, although the stock has declined by over 30% year to date. Several related articles discuss recent growth and strategic developments within the airline group.
