Capital A Seeks to Clear Distressed Status With $1.3B Capital Cut

After more than a year of trying to restructure and stabilize its financial position, Capital A Berhad has submitted its long-awaited regularisation plan to Bursa Malaysia.

This step marks the company’s bid to exit the Practice Note 17 (PN17) status — a designation for financially distressed companies.

Talking to reporters at a brief press conference at Kuala Lumpur International Airport, CEO Tony Fernandes expressed confidence that Capital A would exit PN17 by February or March (next year), and by the first quarter of 2025, AirAsia Group would also register as a new company.

The proposed PN17 plan is subject to the completion of the disposal of aviation to AirAsia X. AirAsia X is expected to complete the acquisition of Capital A' aviation busine