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Capital A, formerly AirAsia, to raise funds, start new operations

Budget carrier's group CEO Fernandes says it aims to be 'ASEAN airline'

Founder and group CEO Tony Fernandes speaks on Jan. 28 on the occasion of AirAsia changing its name to Capital A.   © Reuters

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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