KUALA LUMPUR (April 12): AirAsia X Bhd (AAX) has once again applied to Bursa Securities for more time to submit its regularisation plan by extending its April 28 deadline to July 28. The regularisation plan is crucial as it is supposed to lift not just AAX, but also its sister company Capital A Bhd — which operates short-haul, low-cost airline AirAsia — out of Practice Note 17 (PN17) status. It is widely expected that the regularisation plan involves Capital A injecting its aviation business into AAX via an issuance of shares. Capital A and AAX are working on their respective regularisation plans. The recent Capital A share price rally has caused many to wonder about the price that AAX will have to pay to acquire AirAsia.
