It’s official, AirAsia Group now known as Capital A

 

AirAsia Group Bhd is now known as Capital A Berhad, but its airline business will continue to use the AirAsia brand.

PETALING JAYA: AirAsia Group Bhd has officially changed its name to Capital A Bhd, its chief executive, Tony Fernandes, announced today.

Hard-hit by the pandemic due to the various travel restrictions in Asia, the company is seeking to raise funds to bolster its balance sheet, Reuters reported.

To diversify its sources of revenue, Capital A has been investing in payments business BigPay, logistics arm Teleport and its Super App for delivery and e-hailing services.

“Over the past two years we have spent the downturn in flying building a solid foundation for a viable and successful future, which is not solely reliant on airfares alone,” Fernandes said in a statement on the name change.

He said, however, that the airline business under the group will continue to use the AirAsia brand.

Reuters reported that the carrier filled 80% of seats on offer in the fourth quarter of 2021 and had the highest number of passengers since the start of the pandemic as travel rules began to ease.

“Domestic travel has already started to rebound in our key markets,” Fernandes said.

“I am hopeful borders will reopen gradually throughout 2022 and we will see a return to normal capacity for our international services by the middle of this year or from the third quarter.” - FMT