AirAsia Group plans name change to Capital A

AirAsia Group has filed a notice to the Bursa Malaysia stock exchange saying it is considering a change in its name to Capital A.

“The board of birectors of AAGB wishes to announce that the company is proposing to change its name from AIRASIA GROUP BERHAD to CAPITAL A BERHAD,” it outlined in the brief disclosure dated January 3, adding that the suggested name had already been approved by the Companies Commission of Malaysia and was reserved by the company on December 28.

The proposed change of name of the AirAsia (AK, Kuala Lumpur Int’l) and AirAsia X (D7, Kuala Lumpur Int’l) parent company is subject to shareholder approval in a vote at a general meeting to be convened at a date to be announced later. A circular to shareholders with details of the planned move “will be issued to the shareholders in due course.”

AirAsia Group, which completed a renounceable rights issue to shareholders on December 31, raising MYR974.5 million ringgit (USD232.8 million) ahead of a planned post-Covid resumption of operations, posted a net loss of MYR887 million (USD212 million) for its third quarter ended September 30, a slightly better result than the MYR851.78 million (USD203.5 million) it suffered during the same quarter in 2020. The loss was partly due to investments in technology as the group scaled up its digital businesses.