KUALA LUMPUR: Capital A Bhd is optimistic about its growth potential this year following a strong rebound in travel demand post-COVID and expects to be out of the PN17 status by the end of this year, said chief executive officer Tan Sri Tony Fernandes.
He said the investment holding group that is involved in aviation, logistics, lifestyle, and financial services ventures, planned to submit its finalised regularisation plan to Bursa Malaysia as early as February.
"We can be out of PN17, definitely this year, I hope much earlier (than that). All of the consultants are now going through all the work.
"We hope to submit to Bursa (somewhere between) February and April. So once we get the approval, then we will go through," he told reporters on the sidelines of the AirAsia Super App Rider and Driver appreciation event here, today.
To recap, Capital A fell into the PN17 list of Bursa Securities - a categorisation for distressed entities, in January 2022.
The group previously announced that there was no plan for a merger between its two airlines entities, AirAsia Bhd and AirAsia X Bhd (AAX), but a separate publicly-quoted aviation group will be formed under the proposed PN17 exit strategy.
Commenting on travel demand especially from China following the reopening of its border, Fernandes said the group anticipated a very strong recovery for the market in view of the overwhelming demand it received from the Chinese tourists.
"We have not started selling in full because we're applying for all the rights...but we have applied for 19 destinations (compared with about) 24 destinations we had pre-COVID.
"The demand is there. Obviously, flights are very expensive going abroad so we think many people will come to Southeast Asia," he said.
He expressed hoped that the governments, which seem quite good at the moment, do not overreact to the latest COVID variant as it is less dangerous, saying that like everywhere else, the surge in China will likely be over soon.
Fernandes said his main focus currently is getting all the planes to fly again and expects to be at par of pre-COVID level by July for all markets, not just China.
He said the airline business would be running with 204 planes by May compared with 150 planes it currently has, and there will be no new delivery taking place this year, while 50 new deliveries are expected in 2024.
"People have to understand that it's taking a little bit of time for airlines to get back, but we're working very hard. We're listening to the people...the issues with AirAsia (regarding) on time performance...I think that's going to be solved. For refunds, I think that's almost all solved now.
"It all looks positive, but there's a lot of things still that we have to work on such as the oil price that is still very high and ringgit versus US dollar. Those are the only two kinds of clouds, but demand is very strong and so I believe 2023 will be an important year for us in getting back to where we were," he said.
He added that AAX would be operating with 14 planes by end-2023 versus eight at present.
-- BERNAMA
Bernama
Thu Jan 12 2023
Capital A Bhd is optimistic about its growth potential this year following a strong rebound in travel demand post-COVID and expects to be out of the PN17 status by the end of this year, said CEO Tan Sri Tony Fernandes. - BERNAMA
Ahmad Zahid ucap tahniah kepada Farah Ain
Ahmad Zahid mengucapkan tahniah kepada atlet boling padang Nor Farah Ain Abdullah yang muncul juara pada Kejohanan Boling Padang Dalam Dewan Dunia 2024.
Raih RM31 juta sejak ditayangkan! Sheriff kini filem no. 1 di Malaysia
Berita gembira ini turut disokong oleh abang Syafiq, Syamsul Yusof yang turut bangga dengan kejayaan naskhah yang dihasilkan adiknya.
Letupan bom Sungai Golok: PDRM tingkat kawalan keselamatan sempadan Malaysia-Thailand
PDRM mempertingkatkan kawalan keselamatan di sempadan Malaysia-Thailand susulan insiden letupan bom dan bunyi tembakan di Sungai Golok.
Pemain ragbi meninggal dunia selepas perlawanan pasukan pilihan MB Kedah
Seorang bekas pemain Sukma Kedah meninggal dunia selepas menyertai perlawanan pertunjukan pasukan pilihan Menteri Besar Kedah pada Ahad.
OCC: Masih banyak usaha perlu dibuat dalam isu hak kanak-kanak
Masih banyak yang perlu dilakukan kerana Malaysia masih ketinggalan berbanding negara lain dalam menangani isu penderaan dan masalah sosial melibatkan kanak-kanak.
iPad Pro mungkin dijana dengan cip Apple M4 terbaharu, fokus ciri AI
Cip Apple M4 dijangka memfokuskan kepada keupayaan enjin neural yang disertakan bersama dengannya membolehkan ia menawarkan ciri AI yang lebih baik.
Lebih 840,000 permohonan untuk London Marathon 2025 pecah rekod dunia
Jumlah permohonan untuk menyertai larian TCS London Marathon tahun depan telah memecahkan rekod dunia.
WEF: Anwar jumpa 50 pemimpin industri & perniagaan, yakin pelabur bernilai tinggi pilih Malaysia
Datuk Seri Anwar Ibrahim menzahirkan keyakinan lebih banyak pelabur bernilai tinggi akan memilih Malaysia sebagai destinasi pelaburan mengikut jejak langkah syarikat-syarikat gergasi seperti Tesla, AWS, Infineon dan Nvidia.
AWANI Ringkas: Ikut jejak syarikat gergasi lain
Ikuti rangkuman berita utama yang menjadi tumpuan sepanjang hari di Astro AWANI menerusi AWANI Ringkas.
Bursa Malaysia dibuka tinggi seiring prestasi Wall Street
Bursa Malaysia dibuka rendah pada Isnin, mengambil petunjuk pasaran serantau dan kenaikan di Wall Street pada hari Jumaat.
Capital A zahirkan minat beli lapangan terbang di ASEAN
Aviation Services iaitu perkhidmatan penerbangan di bawah Capital A Bhd menzahirkan minat memiliki lapangan terbang di seluruh ASEAN.
Tony Fernandes lanjut kontrak 5 tahun sebagai CEO Capital A
CEO Capital A Bhd Tony Fernandes telah menandatangani kontrak perkhidmatan baharu untuk tempoh lima tahun akan datang.
Pesawat Airbus A321LR jadi pilihan pengembangan armada AirAsia
Fernandes berkata, daripada 362 pesawat A321neo (pilihan enjin baharu), 36 pesawat telah ditukar kepada A321LR (jarak jauh).
Thailand, AirAsia bincang tambah perjalanan udara
Thailand merancang menambah penerbangan keluar dan masuk yang menghubungkan bandar utama dan bandar lain bagi merangsang ekonomi.
Capital A cadang lupus perniagaan penerbangan kepada AirAsia X
Tony Fernandes berkata langkah strategik itu bertujuan memperkemas operasi kumpulan itu dan memudahkan penilaian berteraskan perniagaan.
Agong, Raja Permaisuri zahir ucapan tahniah kepada Tony Fernandes, Abdul Manan
Al-Sultan Abdullah zahirkan ucapan tahniah kepada Tony Fernandes atas kejayaan dinobatkan sebagai Ketua Pegawai Eksekutif Terbaik Asia Pasifik.
Tony Fernandes dipilih Ketua Pegawai Eksekutif Terbaik Asia Pasifik 2023
Kamarudin berkata pencapaian hebat ini mencerminkan usaha keras, ketabahan dan dedikasi seluruh kru dan kakitangan Capital A.
Tony Fernandes hadiri mesyuarat virtual tanpa memakai baju, siap berurut!
Kisah Tony Fernandes tidak pakai baju semasa menghadiri mesyuarat virtual mengundang perbahasan dalam kalangan netizen.
Mengapa syarikat penerbangan tidak boleh bekerjasama? - Tony Fernandes
Syarikat penerbangan disaran menjalin kerjasama agar dapat memacu sektor pelancongan yang berperanan besar dalam memangkin pertumbuhan ekonomi negara.
Move Digital kini jenama baharu bagi airasia Digital
Cabang digital Capital A Bhd, airasia Digital Sdn Bhd, dijenamakan semula sebagai Move Digital Sdn Bhd sekali gus menjadi langkah strategik bagi menekankan komitmennya terhadap perjalanan.