Capital A has completed the disposal of its aviation business to AirAsia X (D7, Kuala Lumpur International), finalising a restructuring designed to consolidate the group's airline operations under one umbrella. It also reduced its direct stake in the long-haul operator by 3.8 points as part of corporate adjustments.

According to a Bursa Malaysia filing, Capital A's disposal of AirAsia Aviation Group and AirAsia concluded on January 16. The transaction was settled via the issuance of approximately 2.3 billion AirAsia X shares to Capital A and its shareholders, along with AirAsia X assuming MYR3.8 billion Malaysian ringgit (USD937.2 million) in debt owed by Capital A to AirAsia Berhad.

AirAsia Aviation Group is the vehicle for all non-Malaysian joint ventures using the AirAsia brand.

Concurrently, AirAsia X completed a private placement on January 16, issuing 606 million new shares to raise MYR1 billion (USD246.6 million). Both the consideration shares and placement shares were listed on January 19.

Separately, Capital A disclosed in a January 14 filing that it sold 17 million AirAsia X shares that day for MYR28.1 million (USD6.9 million). The sale, executed at MYR1.65 (USD0.4) per share, reduced Capital A's direct interest from 12.77% to 8.96%. The group stated the reduction was necessary to ensure that it and persons acting in concert keep their collective shareholding below the 33% mandatory takeover threshold. While Capital A remains a minority shareholder in AirAsia X, its main corporate focus will henceforth be on non-aviation businesses.

Capital A CEO Tony Fernandes termed the completion "the most challenging chapter" in the firm's history, noting it allows the company to focus on exiting its Practice Note 17 financial distress status.

While the consolidation is complete, AirAsia X recently noted that it is still exploring a corporate rebranding to AirAsia Group, but has not yet submitted formal applications

Air India (AI, Delhi International) and Singapore Airlines (SQ, Singapore Changi) signed a commercial cooperation framework agreement on January 16, 2026, as they work towards launching a full-scale joint business agreements.

The agreement, signed in Mumbai by Air India CEO Campbell Wilson and Singapore Airlines CEO Goh Choon Phong, remains subject to regulatory approvals. If approved, the carriers intend to coordinate flight schedules, expand product offerings, and allow passengers to book flights across both networks on a single itinerary.

The airlines also plan to increase cooperation in corporate travel programs and enhance frequent flyer privileges for Maharaja Club and KrisFlyer members beyond standard Star Alliance benefits. While the primary focus is improving connectivity between India and Singapore, the carriers stated they would explore opportunities to broaden cooperation in select overseas markets.

"Air India remains committed to expanding its global footprint, both by adding new aircraft to our own fleet and by forging stronger commercial partnerships," Wilson said. For his part, Goh described the agreement as a "natural evolution" of the partnership and that it is a "strategic, win-win collaboration" that will improve connectivity between the two countries.

The two airlines currently codeshare on 61 points across 20 countries and territories. This follows an expansion in October 2024 that added 51 international and domestic destinations to their shared network. Under the existing arrangement, Air India places its code on Singapore Airlines flights to 29 destinations, including points in Australia, Japan, Vietnam, and the Philippines.In turn, Singapore Airlines codeshares on Air India international services to 14 cities in Europe and the Middle East, as well as on its domestic routes in India.

Singapore Airlines Group holds a 25.1% stake in Air India.