Capital a Expected to Return to Profit This Year After 2024 Loss
Capital A made an attributable loss of 475.1 million ringgit ($106.5 million) for 2024, from a profit of 255.3 million ringgit in the previous year. The company said the loss was largely due to 1.4 billion ringgit in one-off forex losses mainly in its aviation business, which also caused the company's fourth-quarter loss to swell to 1.57 billion ringgit from 345.3 million ringgit a year earlier. Capital A is in the process of selling its AirAsia aviation business to long-haul unit AirAsia X Bhd, which counts Capital A as one of its top shareholders.
- The planned exit from Malaysia's 'PN17' status could help restore investor confidence and pave the way for a more stable future for Capital A.
- How will the sale of its aviation business impact Capital A's ability to adapt to changing market conditions and remain competitive in the long-term?