No merger but a separate entity to be formed - Capital A clarifies

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The company would make the requisite announcements once the plan is finalised, Capital A stated.

, but a separate publicly-quoted aviation group will be formed under the proposed Practice Note 17 exit strategy.

The group also denied two news articles featured on the Edge CEO Morning Brief titled"No merger of AirAsia’s Aviation business, says Fernandes” and"Super Plus app set to spur Capital A” featured in The Star e-Paper platform. "We are just injecting AirAsia airlines into AAX’s listing status... there is no merger. AAX will be renamed AAG and there will be six airlines under it.

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