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AirAsia carriers seek to merge in Capital A shake-up

Southeast Asian airline group scrambles to avoid delisting

A Thai AirAsia aircraft sits at Bangkok's Don Muang International Airport. The carrier will be acquired by AirAsia X.   © Reuters

SINGAPORE -- Malaysia's troubled Capital A seeks to merge its AirAsia budget carrier with medium- and long-haul offshoot AirAsia X in a bid to avert a potential stock market delisting.

AirAsia X would acquire AirAsia arms serving Malaysia, Thailand, Indonesia and the Philippines. The units will form a "consolidated aviation group" after the transaction, which is subject to shareholder and regulatory approval, Capital A said in a statement Tuesday.

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