Capital A will dispose its entire stake in AirAsia Aviation and AirAsia to AAX for RM6.8 billion, with AirAsia Aviation Group Sdn Bhd) being proposed to be disposed for RM3 billion and AirAsia Group for RM3.8 billion.
With this Capital A said AAG will assume the listing status of AAX prior to the completion of the proposed disposals.
The break up of the group came about after it triggered the prescribed criteria under Practice Note 17 of the Listing Requirements. Under the PN17 of the Listing Requirements, the Company had an obligation to regularise its financial condition.
Accordingly, the Company said tiit will make a requisite announcement on the regularisation plan upon its finalisation.
