No merger but a separate entity to be formed, says Capital A

, but a separate publicly-quoted aviation group will be formed under the proposed Practice Note 17 or PN17 exit strategy.

The group further said the plan remains a work in progress and will be subject to multiple approvals, including by the company’s board of directors, shareholders and Bursa Malaysia.On Monday, Capital A chief executive officer Tan Sri Tony Fernandes told the media that all aviation operations will be injected under one existing structure, namely, the AirAsia Aviation Group .

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No merger but a separate entity to be formed - Capital A clarifiesKUALA LUMPUR: Capital A Bhd has clarified that there is no plan for a merger between AirAsia Bhd and AirAsia X Bhd (AAX), but a separate publicly-quoted aviation group will be formed under the proposed Practice Note 17 (PN17) exit strategy.
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