{"id":17219,"date":"2022-01-29T17:17:25","date_gmt":"2022-01-29T11:47:25","guid":{"rendered":"https:\/\/aviationa2z.com\/?p=17219"},"modified":"2022-01-29T17:17:26","modified_gmt":"2022-01-29T11:47:26","slug":"airasia-switches-title-to-increase-beyond-an-airline","status":"publish","type":"post","link":"https:\/\/aviationa2z.com\/index.php\/2022\/01\/29\/airasia-switches-title-to-increase-beyond-an-airline\/","title":{"rendered":"AirAsia switches title to increase beyond an airline"},"content":{"rendered":"\n

Malaysia’s AirAsia Group told on Friday it had completed the title change of its listed holding company to Capital A Bhd as it seeks market recognition of its growing portfolio of businesses beyond the core budget airline.<\/strong><\/p>\n\n\n\n

Malaysia’s AirAsia<\/strong> Group<\/strong> <\/h2>\n\n\n\n
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AirAsia |aviationa2z.com<\/strong><\/figcaption><\/figure>\n\n\n\n

The company’s airline business has existed hard-hit during the pandemic due to strict travel management in Asia, leading Malaysia<\/a>‘s stock deal to this month classify the firm as financially distressed though it has been increasing funds to bolster its balance sheet.<\/p>\n\n\n\n

Capital A has been investing heavily in the payments business BigPay, logistics arm Teleport, and its mobile Super App to gain other authority of income, though they stay in development phases and were loss-making in the quarter completed Sept. 30, 2021.<\/p>\n\n\n\n

Chief Executive Tony Fernandes told <\/h2>\n\n\n\n
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AirAsia |aviationa2z.com<\/strong> <\/figcaption><\/figure>\n\n\n\n

“Over the past two years, we have spent the downturn in flying building a solid foundation for a viable and successful future, which is not solely reliant on airfares alone,” Capital A Chief Executive Tony Fernandes told in a report.<\/p>\n\n\n\n

Fernandes told reporters at a launch event in Kuala Lumpur <\/h2>\n\n\n\n

The airline business will retain the AirAsia<\/a> brand, which is well known in Asia<\/a>, said.<\/p><\/blockquote><\/figure>\n\n\n\n

Fernandes told journalists at a launch event in Kuala Lumpur the carrier, which has five affiliate airlines including long-haul operator AirAsia X, planned to present two more to its stable. He refused, however, to give further details.
The group is again seeking to raise about 1 billion ringgit this year, as it resumes steps to regularise its finance Fernandes told.<\/p>\n\n\n\n

Also, read <\/strong><\/p>\n\n\n\n