KUALA LUMPUR -- Capital A, the holding company of low-cost airline AirAsia, plans to raise over 1 billion ringgit ($238 million) to fund working and operating expenditures, and will also set up low-cost airline operations in two Southeast Asian countries this year, co-founder and group CEO Tony Fernandes said on Friday.
Speaking at the renaming of AirAsia Group to Capital A in Kuala Lumpur, Fernandes said its cargo arm, Teleport, recently closed a fundraising of 200 million ringgit, while its superapp business is soon to conclude a cash call of up to 200 million ringgit. The airline itself will continue to be known as AirAsia.
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