AirAsia X, Capital A Resolve Key Thai Step Toward Group Consolidation

AirAsia X has reached an agreement with an undisclosed Thai partner to jointly acquire Asia Aviation PLC, the listed parent company of Thai AirAsia. The move keeps AirAsia X’s shareholding in the Thai carrier at 40.7%, allowing the airline group to bypass the need for a regulatory exemption from Thailand’s Securities and Exchange Commission. This development clears a major hurdle in Capital A’s broader plan to consolidate all AirAsia-branded airlines under AirAsia X by the end of the year.

In filings to Bursa Malaysia, both Capital A and AirAsia X confirmed that the agreement was formalized through a third supplemental share sale and purchase agreement. The waiver removes the previous condition that required approval from Thailand’s takeover panel to avoid triggering a mandatory tender offer for all remaining Asia Aviation shares.

Once AirAsia X acquires AirAsia Aviation Group (AAAGL) from Capital A, it will work with the Thai partner to carry out the tender offer for Asia Aviation. The local Thai party will provide full funding for this tender, and AirAsia X will not need to inject additional capital. Importantly, the shareholding structure of Thai AirAsia will remain unchanged, and its listing status and air operator’s certificate will be unaffected.

Capital A and AirAsia X expect all conditions for the consolidation to be met by the end of October, with the full transaction—including capital adjustments and listing actions—targeted for completion by December 2025. The restructuring will allow Capital A to focus on non-airline businesses such as Asia Digital Engineering, Teleport, AirAsia MOVE, Santan, Abc., and BigPay.

Related News: https://airguide.info/category/air-travel-business/airline-finance/

Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com