MAHB, Capital A shares up after ending legal proceedings

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KUALA LUMPUR: Malaysia Airports Holdings Bhd (MAHB) and Capital A Bhd's shares on Bursa Malaysia were up this morning following the announcement of the aviation industry players’ decision to drop all legal charges against each other.

At 10.01 am, MAHB’s shares rose by six sen to RM6.34, while Capital A gained one sen to RM64.5 sen.

In a joint statement yesterday, MAHB managing director Datuk Iskandar Mizal Mahmood said there are no longer any legal proceedings or material litigation from MAHB against AirAsia Bhd/AirAsia X Bhd, operated by Capital A.

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He added that close collaboration with all stakeholders within the aviation ecosystem is key in propelling the industry and the country’s growth.

Meanwhile, Capital A chief executive officer Tan Sri Tony Fernandes said AirAsia and AirAsia X have also withdrawn all legal proceedings as the group looks forward to working together for a better future.

"As the world recovers from the pandemic and substantial losses in the aviation sector, in particular, it is integral that all stakeholders work together to stimulate the air travel revival.

"As two major players driving the aviation ecosystem, it is now more important than ever that MAHB and our Malaysia-based airlines, AirAsia and AirAsia X, show solidarity in making Malaysia’s aviation industry competitive and attractive again,” he said. - Bernama