Malaysia’s Capital A will ask shareholders to approve a capital reduction of up to MYR6 billion ringgit (USD1.36 billion), allowing the company to offset its accumulated losses and shore up its balance sheet.

Capital A, which ultimately controls AirAsia (AK, Kuala Lumpur International) and AirAsia X, and holds stakes in their various AirAsia-branded sibling carriers, told Bursa Malaysia in an April 15 filing that it would ask shareholders to vote on the matter at a May 7 extraordinary general meeting….

Source: ch aviation
Read more: Capital A seeks approval for .36bn equity write-down