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Malaysia’s Capital A Bhd., which operates budget carrier AirAsia, will hive off its aviation business to its long-haul affiliate as the group seeks to streamline its operations and gain better access to financing.
The company entered into a non-binding offer to sell its Malaysian airline unit and AirAsia Aviation Group Ltd. — which consists of its subsidiaries in Thailand, Indonesia, Philippines and Cambodia — to AirAsia X Bhd.
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