AirAsia owner Capital A to publish internal targets to improve transparency

Air Asia Co

24/02/2025 05:22

SEOUL, Feb 24 (Reuters) - Malaysia's Capital A Berhad
 CAPI.KL , owner of budget airline AirAsia, said on Monday it
will start to publish internal business targets alongside
quarterly results to give investors a better picture of the
company's financial outlook.
    Capital A was hard hit by pandemic travel restrictions and
classified by Malaysia's stock exchange as 'PN17', or
financially distressed. It is seeking to exit PN17 status. 
    It is also in the process of selling its AirAsia aviation
business to long-haul unit AirAsia X Bhd  AIRX.KL , which it
announced a year ago in a move to consolidate long and
short-haul operations under a single AirAsia brand.
    Capital A companies want "to build investor confidence
through consistent and reliable financial disclosures while
ensuring that all stakeholders have the necessary information
for a fair and reasonable valuation of the company", it said.
        Publication will begin from Wednesday, the investment
holding company said. 
  
    "With most of the uncertainties that previously impacted our
business now behind us, the timing for this move is right,"
Group Chief Executive Tony Fernandes said in a statement. 
    Capital A added that it had made "significant progress" on
the AirAsia X Bhd  AIRX.KL  sale, saying all necessary consents
are expected by end-February. 
    In January, it extended the deadline for the disposal by two
months to March 24. 
    AirAsia was founded in 2001 with two aircraft and has since
become one of Asia's largest budget airline operators.
    Both Capital A and AirAsia X were given PN17 status, under
which they could be delisted from the stock exchange if they
fail to stabilise their finances within a set time frame.
AirAsia X was removed from the classification in November 2023.

 (Writing by Lisa Barrington; Editing by Sonia Cheema)
 ((lisa.barrington@thomsonreuters.com;))