Founder and CEO of Capital A Bhd Tony Fernandes delivers a speech during a ceremony announcing a name change of the group holding company from AirAsia Group Bhd in Kuala Lumpur on Friday (Reuters photo)
Malaysia’s AirAsia Group Bhd said on Friday it had changed its name to Capital A Bhd to reflect its growing portfolio of businesses beyond the core budget airline.
The airline business has been hard-hit during the pandemic due to strict travel rules in Asia, leading Malaysia’s stock exchange to this month classify the firm as financially distressed though it has been raising funds to bolster its balance sheet.
The group proposed changing its name on Jan 3.
Capital A has been investing heavily in payments business BigPay, logistics arm Teleport and its mobile Super App to gain other sources of revenue,…
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