AirAsia airplanes are pictured on the tarmac at Kuala Lumpur International Airport in Sepang on January 8, 2024. Malaysian conglomerate Capital A intends to sell its budget carrier business to medium- to long-haul affiliate AirAsia X in a major consolidation of the country's airline industry. Brand licensing opportunities could include hotels, mobile services and airlines in markets such as south Asia and Africa where AirAsia does not have subsidiaries, Fernandes said. The deal values the new company, Capital A International, at $1.15 billion, according to a release Wednesday. That will create a unified Air Asia Group, Fernandes said, which is targeting a $400 million equity raise, according to Reuters.

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Persons: Tony Fernandes, —, " Fernandes, Fernandes Organizations: AirAsia, Kuala, Capital, AirAsia X, Nasdaq, CNBC, Asean, Malaysian, Berhad, Air, Air Asia Group, Reuters, Aetherium, International Locations: Kuala Lumpur, Sepang, U.S, Malaysia, Asia's, America, Southeast Asia, Asia, Africa, Malaysian, Air Asia