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Capital A Berhad reached another milestone as the High Court of Malaya confirmed its issued share capital reduction on March 21.

The amount required for the reduction will depend on AirAsia X (AAX) shares’ market price during Capital A’s High Court application.

CEO Tony Fernandes remarked: “This is another significant step forward in our transformation journey. The High Court’s confirmation gives us the clarity needed to advance with the Proposed Distribution and other key initiatives. We are committed to ensuring a seamless transition for all stakeholders as we continue to reshape Capital A into a more focused digital and travel company. We appreciate the patience and support from our shareholders, partners, and regulators.”

While this decision represents progress, the proposals, including the Proposed AAAGL Disposal and Proposed Distribution, are subject to certain conditions under the Share Sale and Purchase Agreements. The Entitlement Date for the Proposed Distribution will be announced once all conditions are satisfied.