AirAsia Group Sdn Bhd (AAG) is poised to be listed on Bursa Malaysia in September, taking over the listing status of AirAsia X Bhd, said Capital A Bhd chief executive officer Tan Sri Tony Fernandes on Friday (April 26).
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NewsTranscript
00:00 [ Music ]
00:21 >> A round of applause for the amazing performance
00:24 by the AirAsia Prod team.
00:27 The crew are world-class dancers,
00:30 and that just shows the resilience of our staff.
00:36 So I'll get into what this is all about.
00:40 Obviously, it's been released to the press,
00:42 released to Bursar Malaysia, but I'll try and give you my context
00:45 and our board's context.
00:46 What have we done?
00:47 We're basically putting -- capital A is selling its aviation assets
00:52 to AirAsia X.
00:54 And in time, when we're listed, probably in September,
00:57 we will be called AirAsia Group.
01:00 And then we will merge the X airlines into the short-haul airlines after that.
01:06 What is the purchase price?
01:10 It's normally $6.8 billion for the assets, the capital aviation assets,
01:16 but the real payment to AirAsia X shareholders
01:20 are giving $3 billion worth of shares.
01:23 So X shareholders are getting a fantastically well-oiled short-haul airline,
01:28 four planes, a great order book for effectively $3 billion,
01:33 and guaranteeing them massive growth.
01:36 AirAsia shareholders are getting out of PN17,
01:41 plus getting the future potentials of all those routes we couldn't do before.
01:46 And that is very exciting from where I am,
01:49 and that's why I stayed on for another five years,
01:51 to deliver this second disruption.
01:55 We'll be the first short-haul network carrier,
02:01 narrow-body network carrier, not short-haul.
02:06 So, you know, the benefits to capital A shareholders,
02:10 shareholder equity will be positive,
02:12 pave the way for PN17 exit, and I believe before June 20th,
02:17 our focus now is getting the circulars out to the shareholders,
02:20 but before June 20th, we will put in a full regularization plan.
02:23 And of course that regularization plan will be much easier
02:27 because we're in positive equity.
02:29 [Music]
02:37 [Music]