Malaysia’s AirAsia Group Bhd said on Friday it had finalised the name change of its listed holding company to Capital A Bhd as it seeks market recognition of its growing portfolio of businesses beyond the core budget airline.
The company’s 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.
Capital A has been investing heavily in payments business BigPay, logistics arm Teleport and its mobile Super App to gain other sources of revenue, though they remain in growth phases and were loss-making in the quarter ended Sept. 30, 2021.
