AirAsia Group Bhd has officially changed its name to Capital A Bhd, its chief executive, Tony Fernandes, announced yesterday (28 January).
After being hit hard by the pandemic due to the various travel restrictions in Asia, the group is now seeking to raise funds to further expand the scope of their core business to more than just an airline.
According to Berita Harian, the new name is more reflective of its new core business strategy, as an investment holding company with a portfolio of travel and lifestyle businesses.
Capital A has been investing in the payments business BigPay, logistics arm Teleport and its Super App for delivery and e-hailing services.
Tan Sri Tony Fernandes, the Capital A Chief Executive Officer said that the name change is to introduce a new corporate identity that is in line with their rapid digital transformation from an airline to digital travel services and one-stop lifestyle group.
“Capital A is essentially an investment company with a board business portfolio that delivers the best value at the lowest cost, backed by solid data built over 2 decades. We are also one of the leading brands in Asia, apart from having a culture that prioritises customers and staff, and remains committed to serving all groups,” he said.
Capital A group now offers about 16 products and services on the AirAsia Super App, offering flights and daily lifestyle necessities.
“From food to groceries and e-commerce, to same-day delivery services, e-calls and more,”
“We are also one of the top 3 online travel agents (OTA) in ASEAN and our application is on track to becoming the leading lifestyle application in the region soon,” he said.
However, its airlines, AirAsia will remain its brand name.
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