Jan 23, 2022
Malaysia's leading low-cost carrier, AirAsia Group, has announced plans to change its name to Capital A. As the airline industry continues to face difficulties due to the new coronavirus, the company is hurrying to expand its non-airline businesses such as cargo delivery and fintech, aiming to reflect its diversification in the company name. The company has already obtained approval from the corporate registration authority, but the name change requires the consent of shareholders. The date of the shareholders' meeting will be announced later. It is expected that the airline business will continue to be operated under the "AirAsia" brand. AirAsia's final profit and loss for the January-September period of 2021 was 2.2 billion ringgit (about 60 billion yen) due to the impact of Corona's travel restrictions, and the company is in a hurry to raise funds, having completed a 975 million ringgit capital increase at the end of December. The company has applied for a digital banking license in Malaysia and is also embarking on digital businesses in Asia such as e-commerce, car delivery and meal delivery.