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Memorandum Of Understanding

BackMay 26, 2022
Type Announcement
Subject MEMORANDUM OF UNDERSTANDING
Description

CAPITAL A BERHAD (FORMERLY KNOWN AS AIRASIA GROUP BERHAD) ("CAPITAL A" OR "THE COMPANY") - Update on status of the non-binding Memorandum of Understanding ("MOU") entered between Avolon Aerospace Leasing and AirAsia Aviation Group Limited (formerly known as AirAsia Investment Limited), a wholly-owned subsidiary of Capital A

Further to the announcement made on 16 February 2022, pertaining to the non-binding MOU with Avolon Aerospace Limited, the Board of Directors of the Company wishes to announce the following update in relation thereto:

 

(i) Setting up of a Joint Working Group (“JWG”) to understand, study and research the feasibility of Urban Air Mobility in the ASEAN region:

  • A JWG has been successfully setup with participation from relevant parties to commence the feasibility study.
  • The feasibility study is ongoing and expected to conclude by February 2023.

(ii) Evaluating the feasibility to lease up to 100 Vertical VX4 Electric Vertical Take-off and Landing aircraft.

  • No material development pending the outcome of the feasibility study.

This announcement is dated 26 May 2022.





Announcement Info

Company Name CAPITAL A BERHAD
Stock Name CAPITALA
Date Announced 26 May 2022
Category General Announcement for PLC
Reference Number GA1-25052022-00096