AirAsia X shareholders have backed the carrier’s acquisition of sister operator AirAsia, paving for the way for the deal to be completed by the end of the year.
Airline shareholders voted 99.08% in favour of the acquisition, following an extraordinary general meeting held on 16 October.
The approval comes days after shareholders of AirAsia parent Capital A approved the disposal of its aviation assets to AirAsia X.
“This pivotal decision clears the path for [AirAsia X’s] transformative acquisition which is expected to be completed by the end of the year as an enlarged aviation group, subject to final court and regulatory approvals,” the medium-haul, low-cost carrier states.
Capital A first announced the divestment plan in January, as part of efforts to restructure its business and exit its financially-distressed status.
The deal will see AirAsia and AirAsia X managed under a single entity, with a combined fleet of Airbus A320-family narrowbodies and A330s.
AirAsia X chief Benyamin Ismail says: “This acquisition positions us on the brink of a transformative shift at AirAsia, uniting medium and short-haul operations into a powerful low-cost carrier network that will bring the world to [Southeast Asia] and [Southeast Asia] to the world.”
