CAPITAL A Bhd, AirAsia’s parent, plans to raise more than US$1 billion (RM4.78 billion) in debt and equity, and will list some of its businesses through a blank-cheque company, the Financial Times reported today. 

Its CEO Tony Fernandes agreed to a deal with Aetherium Acquisition – a Nasdaq-listed special purpose acquisition company – to list several businesses through it next year, citing two people familiar with the deal. 

The report said this included a new business extending the AirAsia brand to companies hoping to start airline franchises in developing countries. 

The group has been evaluating fundraising options for a planned US listing after it was hit by Covid-19 travel restrictions in Asia, leading Bursa Malaysia to classify it as a Practice Note 17, or financially distressed, company last year. 

The potential fundraising includes a US$150 million loan from Bangkok Bank, FT reported. – October 25, 2025.