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AirAsia X Incorporates Wholly-Owned Unit

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KUALA LUMPUR – AirAsia X Bhd has incorporated a wholly-owned unit, AAX Aviation Capital Ltd (AAC), to facilitate the leasing of aircraft by the AirAsia X Group.

The long-haul sister company of AirAsia Bhd told Bursa Malaysia the newly-incorporated subsidiary, AAC, has set up a new wholly-owned subsidiary, AAX Leasing One Ltd (ALO).

Both private limited companies were incorporated under the Labuan Companies Act 1990, and would likely have no immediate effect on AirAsia X’s issued and paid-up share capital or substantial shareholders’ shareholding, it said.

Meanwhile, AirAsia Bhd Group Chief Executive Officer, Tan Sri Tony Fernandes, in his latest post on Twitter, said the reorganisation plan to establish AirAsia Group has been approved by the authorities.

“Super day for AirAsia. AIRASIA Group has been approved as Malaysia courts. The dream of having one airline coming close. Big news for all Allstars,” he said.

It was reported that the reorganisation exercise, which will see the new group assuming AirAsia Bhd’s listing status on Bursa Malaysia, involves the exchange of 3.34 billion existing AirAsia shares. – BERNAMA

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