Capital A out of PN17
KUALA LUMPUR, 19 MAY 2026 - Capital A Berhad (“Capital A” or the ‘Company’) today received the approval from Bursa Malaysia Securities Berhad for the upliftment of Capital A from being classified as a PN17 company effective from 9:00AM, Wednesday, 20 May 2026. This follows the successful completion of the Company’s regularisation plan, which brings a definitive close to a six-year long restructuring chapter and the start for Capital A’s next high-growth journey.
The upliftment from PN17 of Capital A is the result of a series of major strategic moves completed in January 2026; including the high-profile disposal of the aviation businesses to AirAsia X Berhad (“AAX”), the distribution and listing of AAX shares to entitled Capital A shareholders, and the High Court-approved capital reduction of approximately RM5.5 billion. This successful restructuring has restored the Company’s shareholders’ funds back into positive territory. Underscoring the regularised financial conditions, Capital A also noted that its businesses have been delivering five consecutive quarters of profitability (after excluding the results from aviation businesses) from Q12025 to Q12026.
Tony Fernandes, CEO Capital A said, “This is the best news all of us at Capital A could have asked for. The past six years have been incredibly tough and at times, there were moments where many thought we would not make it through. But we never gave up. We protected jobs, transformed Capital A into a much stronger and diversified ecosystem, and focused relentlessly on growth. Just as the world started recovering from Covid, we’re faced with another wave of uncertainty from global conflicts, fuel prices and supply chain pressures. But Capital A companies are less affected by fuel volatility, and this goes to prove that our strategy of creating a resilient, independent group of non-aviation companies was on point.
Bursa’s decision to officially uplift our PN17 status is truly an emotional moment for me, and all of our Allstars. It validates the hard work, discipline and resilience that went into executing every step of our regularisation plan.
“An achievement of this magnitude could not have been done alone. I want to express my deepest gratitude to Bursa Malaysia for their faith in our vision. A special thank you goes out to our advisors at BDO, RHB, EY as well as our legal counsel Christopher Lee Ong, whose exceptional expertise, tireless dedication, and unwavering support were instrumental in steering us through this complex journey.”
Effendy Shahul Hamid, Deputy CEO Capital A also commented, “Emerging from PN17 marks the start of a new era for Capital A, which is now a completely different group made up of five strong businesses, each with huge growth potential. ADE is having a record year and Teleport continues to grow its logistics network across Asia and beyond. Both have secured fresh funding to continue their aggressive growth trajectories. AirAsia MOVE will plug into the airline’s coordinated airline network to grow ancillary, retail and trip planning, making it smarter and more personal; while AirAsia Next unlocks the power of the iconic AirAsia brand through loyalty, AI and data across the entire ecosystem. Santan is also preparing to scale beyond inflight meals into a true Asean grab-and-go food brand.
We navigated a period of tight restrictions with resilience and financial discipline, and I feel we’ve emerged sharper and more determined. We can now move forward with our plans and corporate actions for our various businesses, on the back of renewed discipline, technology-centric mindset, resilience and long‑term thinking. We hope to execute with speed and ambition, and at the same time demonstrate value in our stable of businesses with a clear growth agenda.”
Teh Mun Hui, Group Chief Financial Officer of Capital A said, “This corporate restructuring has been one of the most defining moments for Capital A. This highly complex exercise was carried out across multiple transactions, jurisdictions and regulatory processes, and I would like to thank all stakeholders for the close collaboration throughout the journey. More importantly, this milestone reflects the strength and resilience of the Group, and allows Capital A to move forward with a much stronger balance sheet, clearer corporate structure and renewed focus on long-term growth.”
Post-upliftment, all AirAsia airlines operate under one consolidated airline platform, while Capital A concentrates on its core businesses designed to deliver sustainable value through superior internal and external ecosystem orchestration capabilities. The businesses include Asia Digital Engineering (ADE, aviation MRO business), Teleport (logistics), AirAsia MOVE (travel platform), AirAsia Next (brand & IP) and Santan (F&B).
Capital A will continue to update the market on operational progress across its businesses.
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