KUALA LUMPUR: Capital A Bhd

will distribute 1.69 billion new shares in AirAsia X Bhd

(AAX) to its eligible shareholders via a dividend-in-specie, marking the final stage of its restructuring plan.

In a statement today, the group said the move forms part of the final phase in the disposal of its airline business to AAX, consolidating all AirAsia-branded airlines under a single entity and paving the way for Capital A’s transformation into a multi-platform travel and digital group.