AirAsia X Berhad has announced that all mandatory terms outlined in the Share Sale and Purchase Agreements between AAX and Capital A Berhad have been met or waived as of Thursday, October 30.

Accordingly, as of Wednesday, October 29, these agreements became unconditional in accordance with their stipulations. This marks a pivotal achievement in the planned acquisitions of AirAsia Aviation Group Limited and AirAsia Berhad, collectively establishing a consolidated platform known as AirAsia Group.

The new entity will provide both medium- and short-haul services across Asia, Australia, the Middle East, and beyond.

Conditions met as planned
This recent progress follows the fulfillment of all outstanding requirements. As of the latest reports, stakeholder consent letters and the RM1 billion private placement commitment letters for AirAsia X have been successfully secured, along with a regulatory exemption that was needed from Thailand as of October 17.

Significant evolution
Fam Lee Ee, Chair of AirAsia X Berhad, remarked: “This represents a crucial development, marking AirAsia’s progression into its next chapter. Both AirAsia and AirAsia X were pioneers of low-cost travel in Asia, and with the establishment of the AirAsia group, we are evolving our legacy into becoming the first global low-cost network carrier.”

He also noted that, now that the transaction is unconditional, AirAsia Group is prepared to enhance Southeast Asia’s status as a global low-cost megahub. “This endeavor will amplify economic benefits throughout the region by extending our outreach to important markets, including Asia, Australia, the Middle East, and Europe. Together, we are crafting the future of inclusive travel globally,” he added.

The consolidation will enable AirAsia Group to achieve efficiencies across various operational aspects, from fleet and network management to digital processes and customer service, thereby shaping a more agile and competitive low-cost airline group.