The budget airline said the name change aimed to have a new corporate identity that offers a better reflection of the group’s core business and its future undertakings in tandem with its rapid transformation.

The company said it had gone beyond its beginnings as an airline into a digital travel and lifestyle services group, which continues to gain strong momentum.

“This structural change will help facilitate strong projected growth in our business portfolio.

“We believe that the new company name will further enhance, and be in line with our purpose to connect people and transform lives.

“It will also set the tone for the group as it expands into new horizons and allay concerns of being a group that was intrinsically an airline,” it said in the circular to shareholders filed with Bursa Malaysia today.

According to AirAsia, its board, after having considered all aspects of the proposed change of name, was of the opinion that the move was in the best interests of the company.

AirAsia said the EGM, slated to be held on Jan 27, 2022 at 3pm, is for the purpose of considering and, if thought fit, passing with or without modifications, the special resolution to give effect to the proposed change of name.

It said the EGM will be conducted as a fully virtual meeting through live streaming using the remote participation and voting facilities provided by Tricor Investor & Issuing House Services Sdn Bhd via the TIIH website.

AirAsia had, on Monday, announced a proposal to change its name to Capital A Bhd, which has been approved by the Companies Commission of Malaysia (CCM) and reserved by the company on Dec 28, 2021.

“The proposal, if approved by the shareholders, will take effect from the date of issuance of the Notice of Registration of New Name by the CCM to the company,” it said in a bourse filing on Monday.