Shareholders Approve Formation of AirAsia Group, More Consolidation On The Card - GCEO Fernandes

SEPANG (Selangor, Malaysia), Jan 8 (Bernama) -- Shareholders approved the formation of AirAsia Group Bhd, which will later assume the listing status of Malaysia’s low-cost airline, AirAsia Bhd, on Bursa Malaysia (Malaysia’s Stock Exchange). Under a one-for-one share swap deal, AirAsia Group would emerge as an investment holding entity while AirAsia will focus on its airline operations, AirAsia Bhd Group Chief Executive Officer, Dr Tony Fernandes told reporters after the company’s Extraordinary General Meeting here, Monday. The formation of AirAsia Group Bhd is expected to be completed by March 2018. The move would create AirAsia as one economic unit and streamline the structure of its operations. "This would enable the investors to understand the company better going forward. We would hopefully consolidate all of our ASEAN (affiliates) very soon. Thailand is the next, hopefully," he said. -- BERNAMA