AIRASIA GROUP BERHAD (AAX)

Company Profile

After 15 years as Asia's pioneering long-haul budget airline, AirAsia X Berhad has undergone the most dramatic transformation in its history. On January 18, 2026, the company completed the acquisition of Capital A's aviation assets - comprising AirAsia Berhad and AirAsia Aviation Group - and the very next day, on January 19, 2026, was officially renamed "AirAsia". The stock ticker remains AAX (5238) on Bursa Malaysia.

This is not merely a name change. It is a fundamental transformation - from a purely long-haul budget operator focused on routes like Kuala Lumpur-Tokyo, KL-Sydney, and KL-Jeddah, into a comprehensive aviation group that now manages both long-haul AND short-haul operations across multiple countries in Southeast Asia.

Business Segments (Post-Merger)

• Long-haul: Legacy AAX operations - 25+ Airbus A330-300 aircraft serving North Asia (Japan, Korea, China), Australia, and the Middle East. An additional 4 A321LR aircraft are being delivered for European routes starting 2H 2026 (London, Paris).
• Short-haul: AirAsia Malaysia, Thai AirAsia (Thailand), AirAsia Indonesia - domestic and regional operations connecting hundreds of destinations across Southeast Asia.
• AirAsia Aviation Group: The aviation operations management platform that encompasses the entire ecosystem.

Scale of Operations

With a total fleet of 253 aircraft and a record 68.6 million passengers in FY2025 (pro-forma), AirAsia is now the largest airline group in Malaysia and among the largest in Southeast Asia by operational scale. Management targets for FY2026: 79 million passengers, RM25 billion revenue, and 5% net operating profit margin.

New Strategic Routes

The launch of the KL-Bahrain-London route in mid-2026 - using Bahrain as a virtual hub - marks AirAsia's return to Europe after years of absence. Paris routes are also planned for 2H 2026, making AirAsia the first Malaysian budget airline to serve continental Europe.

Shariah Compliant Status ✅

AirAsia (AAX) is Shariah Compliant - certified by the Shariah Advisory Council of the Securities Commission Malaysia. Muslim investors can invest with confidence.

Note: Stock code 5238 and ticker AAX remain unchanged despite the company being renamed to "AirAsia".

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