AIRASIA Group Bhd has announced a name change for the group holding company to Capital A Bhd to reflect the Group’s new core business strategy as an investment holding company with a portfolio of synergistic travel and lifestyle businesses.
According to Capital A CEO Tan Sri Tony Fernandes, the move is not just about unveiling a new logo but also represents a significant milestone that marks a new era for the Group, one that reinforces the fact that the AirAsia brand is much more than just an airline.
“While the airline will always underpin the AirAsia brand, it has long been my firm intention, well before COVID-19 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,” said Fernandes, adding that the pandemic had allowed them to accelerate that strategy.
“Essentially Capital A is an investment company with a broad portfolio of businesses which all deliver the best value at the lowest cost, supported by strong data built up over two decades.
“We also have one of Asia’s leading brands to ride on, a strong people-first culture and an underlying promise of remaining committed to serving the underserved in all that we do.
“Just like what the airline has done from day one, all of our different lines of business will deliver the same strategy that is underscored by doing what we do best – making travel and everyday lifestyle services affordable, accessible and inclusive to all.”
Growth opportunities abound
Fernandes further noted that the Group is now delivering more products and services under one umbrella than any other brands in Asean, and with access to over 700 million people in the region, he envisioned incredible growth opportunities for the brand across many different industries in all their core markets.
“We have 16 products and services on our airasia super app, providing not only the best value flight and travel deals but also everyday lifestyle needs, from food to retail and e-commerce, to same day delivery, ride hailing and much more,” he remarked.
“We are already one of the top three online travel agents (OTAs) in Asean and our super app is on track to become the leading lifestyle app in the region very soon.
“All of our portfolio businesses are well on the way to becoming industry leaders in their respective fields across Southeast Asia, including BigPay, our aircraft engineering division Asia Digital Engineering (ADE) and logistics venture, Teleport.
“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.
“Meanwhile, our fintech business BigPay has been given a significant injection of US$100 mil from South Korea conglomerate SK Group and overall, we have raised over RM2.5 bil to date through our fundraising strategy.”
Following strong consumer and investor support for the Group’s transformation strategy, they have not set their sights on further capital-raising initiatives for the airasia super app, Teleport and ADE.
The name change from AirAsia Group Bhd to Capital A Bhd will not have any effect on the Company’s ongoing operations.
The AirAsia stock name on the main Board of Bursa Malaysia Securities Bhd will also change with immediate effect to reflect the new company name. – Jan 28, 2022
