Capital A back in the black with RM689.57mil net profit

 The group says that revenue from continuing operations increased to RM414.52 million from RM359.76 million previously, driven by stronger contributions from its non-aviation businesses.

Capital A expects to complete its disposal of its aviation business to AirAsia X Bhd by the third quarter of 2025. (EPA Images pic)

KUALA LUMPUR:

 AirAsia owner Capital A Bhd returned to the black with a net profit of RM689.57 million in the first quarter ended March 31, from a net loss of RM91.55 million a year ago.

In a filing with Bursa Malaysia today, the group reported that revenue from continuing operations increased to RM414.52 million from RM359.76 million previously, driven by stronger contributions from its non-aviation businesses.

Capital A is currently in the process of disposing of its aviation business to AirAsia X Bhd and expects the transaction to be completed by the third quarter of 2025.

“The restructuring also sets the stage for Capital A’s non-aviation businesses to chart their growth trajectories, with key businesses like Asia Digital Engineering and Teleport stepping up expansion plans, backed by strong demand and strategic capital-raising efforts,” it said.

Last month, Capital A Bhd said it was on track to completing its proposed regularisation and restructuring plan by June 2025, citing continued progress across key regulatory, financial, and operational milestones.

The group had planned to exit its Practice Note 17 status by May after receiving approval from shareholders and the High Court on its regularisation plan. - FMT