AirAsia renamed Capital A to show it’s more than an airline

KUALA LUMPUR, Malaysia (AP) — Malaysia’s AirAsia Group has changed the name of its listed holding company to Capital A to reflect the diversity of its business portfolio as it seeks to grow its non-airline revenue. Capital A CEO Tony Fernandes said the COVID-19 pandemic has allowed the group to accelerate plans to grow beyond the airline business to include logistics, aircraft engineering, venture capital, education and mobile applications for payments, travel and lifestyle. He said the company will become a “one-stop digital travel and lifestyle services group.” The airline retains the AirAsia brand name. Fernandes said he expects non-airline activities to contribute half of the group’s revenue by 2026.