KUALA LUMPUR, 31 January 2022: AirAsia Group Berhad has
changed its name to Capital A Berhad to reflect the push into non-airline
activities.

The change reflects the group’s evolving business strategy
as an investment holding company with a portfolio of synergistic travel and
lifestyle businesses, which have rapidly transformed the AirAsia brand into
much more than just an airline.

(Second from left)  Colin Currie, President (Commercial) of Capital A and CEO, AirAsia Digital Sdn Bhd; Bo Lingam, President (Aviation) and Group CEO, AirAsia Aviation Limited; Tan Sri Tony Fernandes, Chief Executive Officer of Capital A.

Capital A CEO Tony Fernandes explained: “This is not
just about unveiling a new logo. It’s a significant milestone that marks a new
era for the group. Today’s announcement reinforces we are not just an airline
anymore.

“While the airline will always underpin the AirAsia brand,
it has long been my firm intention, well before Covid hit, to leverage the
strong data we have built up over 20 years and incorporate industry-leading new
technologies to offer a broad range of products and services, over and above
selling just airfares. The pandemic has allowed us to accelerate that
strategy.”

He called Capital A “essentially an investment company
with a broad portfolio of businesses delivering more products and services
under one umbrella than any other brand in ASEAN and with access to over 700
million people in the region.”

The group has 16 products and services under the AirAsia Super
App and claims to be one of the top three online travel agents (OTAs) in the
ASEAN region.

“We already have over 50 million monthly unique
visitors on our super app, which has been recognised as a tech unicorn in under
two years, our fintech business BigPay, has been given a significant injection
of USD100million from South Korea conglomerate SK Group and overall we have
raised over MYR2.5 billion to date through our fundraising strategy.”

On the airline, he stressed: “While Capital A will be
the new group holding company name, one thing that isn’t changing is the
AirAsia brand name for our airlines. It’s one of the strongest brands in Asia
and provides a solid platform for all of our other products and services to
leverage from each other. 

The new holding company name, Capital A, is immediately
effective following the successful registration of the name by the Companies
Commission of Malaysia announced on 3 January and the subsequent formal
approvals received last week.

The name change from AirAsia Group Berhad to Capital A
Berhad will not affect the company’s ongoing operations. The AirAsia stock name
on the Main Board of Bursa Malaysia Securities Berhad will change with
immediate effect to reflect the new company name.

The website address: capitala.airasia.com