AirAsia X extends the deadline to finalize the acquisition of AirAsia
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AirAsia X announced a mutual agreement with Capital A to extend the deadline for the completion of the acquisition of the latter’s aviation business, which includes AirAsia Aviation Group Limited and AirAsia Berhad.
The deadline, initially set for January 25, has been extended to March 24, 2025. This extension will allow both parties to finalize the details of the transaction, as well as for AAX to close the definitive terms with identified investors for a private placement aiming to raise gross proceeds of 1 billion ringgit (USD 228 million). The due diligence processes for both entities have already been successfully completed.
AirAsia X CEO Benyamin Ismail stated that the negotiations are “close to the finish line." “Most of the key milestones have already been achieved, including the unanimous approval of our shareholders during the Extraordinary General Meeting held in October 2024”.
“This extension is a prudent step to ensure that all aspects of the transaction are addressed comprehensively, including obtaining final approvals and consents from authorities, financiers, and lessors, many of whom are already at advanced stages,” he added.
According to Ismail, the integration of airlines under the AirAsia brand into a single entity will strengthen the sector, marking a turning point in the evolution of the low-cost model.
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