Capital A, AirAsia X Agree To Extend AAAGL, AAB Cut Off Date To Aug 31

KUALA LUMPUR, July 31 (Bernama) -- Capital A Bhd and AirAsia X Bhd (AAX) have mutually agreed to further extend the AirAsia Aviation Group Ltd (AAAGL) and AirAsia Bhd’s (AAB) cut-off date under both companies’ share sale and purchase agreements (SSPAs), respectively, from July 31, 2025 until Aug 31, 2025 or such other date as mutually agreed.

The extension is for Capital A and AAX to satisfy the remaining AAAGL and AAB conditions precedent.

“This is to allow additional time for the Capital A and AAX to, among others, obtain the approval and/or consent of the relevant authorities, financiers/lenders and/or third parties as well as for AAX to finalise the definitive terms with the identified investors in relation to AAX’s proposed pre-completion private placement exercise,” the companies said in a filing with Bursa Malaysia.

Meanwhile, AAX today agreed to extend the period for the satisfaction or fulfilment of the relevant conditions precedent under the SSPAs which remain unsatisfied up to Aug 31, 2025.

“This is to allow more time for the company and the vendor (Capital A) to, among others, obtain the approvals and consents of the relevant authorities, financiers/lenders and/or third parties as well as for the company to finalise the definitive terms with the identified investors in relation to the proposed private placement,” it added. 

-- BERNAMA