The AirAsia Group Wants To Change Its Name To Capital A

In an extraordinary general meeting (EGM) to be held on January 27th, the AirAsia Group will ask shareholders to approve changing the company's name from the AirAsia Group Bhd to Capital A Bhd. The Malaysian multinational low-cost airline says that it wants to change its name to reflect its core business and future undertakings better.

The company says that since AirAsia was established in 1993, it has become more than an airline. Today the AirAsia Group sees itself as a digital travel and lifestyle services company that is still developing. According to AirAsia Group board members, the proposed name change is in the company's best interest moving forward.

AirAsia sees itself as being more than an airline

Free Malaysia Today reports that the AirAsia Group filed a circular to the Malaysia stock exchange earlier today. In the circular, which was also sent to AirAsia Group shareholders, it said:

"This structural change will help facilitate strong projected growth in our business portfolio.

"We believe that the new company name will further enhance and be in line with our purpose to connect people and transform lives.

"It will also set the tone for the group as it expands into new horizons and allays concerns of being a group that was intrinsically an airline."

Air-Asia-X-Indonesia-cut-getty — There won't be much smiling for Indonesia AirAsia employees who will lose their jobs. Photo: Getty Images

The EGM will be a virtual meeting

AirAsia says that the extraordinary general meeting will be held virtually on January 27th at 15:00. Shareholders attending the virtual conference will vote on the name change using voting facilities provided by Tricor Investor & Issuing House Services Sdn Bhd via the TIIH website.

"The proposal, if approved by the shareholders, will take effect from the date of issuance of the Notice of Registration of New Name by the CCM to the company," it said in a bourse filing on Monday.

About the AirAsia Group

Operating out of its central hub at Kuala Lumpur International Airport (KUL), AirAsia is the largest airline in Malaysia by fleet size and destinations. The AirAsia Group operates scheduled domestic and international flights to over165 destinations in 25 countries.

The AirAsia Group also has several affiliate airlines in other Asian nations, which include:

Thai AirAsia based at Don Mueang International Airport (BMK)
Indonesia AirAsia based at Soekarno-Hatta International Airport (CGK)
Philippines AirAsia based at Ninoy Aquino International Airport (MNL)
AirAsia India based at Kempegowda International Airport Bengaluru (BLR)

The AirAsia Group also has a low-cost long-haul airline called AirAsia X that flies to 29 global destinations with its fleet of 18 Airbus A330-300 aircraft.