Capital A
Capital A Berhad is a publicly listed Malaysian holding company operating five non-aviation businesses—AirAsia MOVE (OTA), Teleport (logistics), ADE (MRO), Santan (F&B), and AirAsia Next (brand/IP)—serving consumers, airlines, and eCommerce clients across Southeast Asia and beyond following its January 2026 aviation disposal and May 2026 PN17 exit.
- Company typePublic
- Founded2001
- HeadquartersSelangor, Malaysia
- Headcount5,001–10,000
- GTM typeB2B and B2C
- OfferingServices
What Capital A does
Capital A Berhad is a publicly listed Malaysian holding company (Bursa Malaysia: CAPITALA) that has repositioned itself as a diversified non-aviation technology and travel group following the January 2026 disposal of its airline businesses (AirAsia Berhad and AirAsia Aviation Group Limited) to AirAsia X Berhad and its formal exit from PN17 financially distressed status in May 2026. The group operates five core subsidiaries serving enterprise and consumer customers across Southeast Asia: AirAsia MOVE (an online travel agency connecting 700+ airlines, 1M+ hotels and attractions), Teleport (an asset-light cross-border eCommerce logistics platform ranked #1 in Southeast Asia by cargo volume), Asia Digital Engineering or ADE (an EASA- and FAA-certified aircraft MRO provider operating across 20 ASEAN airports), Santan (an F&B business supplying in-flight catering, corporate catering, and B2B ready-to-eat meals to retail chains), and AirAsia Next (brand and IP management including the 30-million-member AirAsia rewards loyalty program). The group also operates ikhlas.com, an Islamic digital travel and lifestyle platform offering Umrah packages and Shariah-compliant services, and holds a minority stake in fintech BigPay.
Capital A's technology stack combines OTA booking infrastructure, eCommerce logistics orchestration across 50+ partner airlines, digital MRO platforms (AEROTRADE for parts procurement, ELEVADE for aircraft health management), and emerging blockchain applications including ringgit and Tenge stablecoin pilots. The group reports Q1 2026 revenue of RM766.6 million from continuing operations (its first clean post-aviation quarterly report), with Q4 2025 non-aviation revenue of RM1.06 billion (+16% YoY) and AirAsia MOVE 2025 revenue exceeding MYR 641 million ($165 million) at sustained profitability.
The business model is a hybrid of marketplace commissions (MOVE OTA take rates), transaction fees (Teleport cross-border shipping), professional services (ADE MRO contracts with airlines), and licensing/loyalty monetization (AirAsia Next brand and AirAsia rewards), serving both long-tail consumers (via self-serve digital platforms and a 51 million-customer KYC database) and enterprise clients (via direct B2B sales to airline operators, logistics customers, and corporate caterers). Post-restructuring, the group is pursuing a twin-listing strategy in Hong Kong and the United States, with Teleport positioned for an imminent IPO at a $500 million pre-money valuation and AirAsia Next reportedly in backdoor Nasdaq listing discussions at approximately $1.5 billion.
Capital A firmographics
Firmographics- Name
- Capital A
- Legal name
- Capital A Berhad
- Website
- https://capitala.com
- Company type
- Public
- Founded year
- 2001
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- Capital A Berhad is a publicly listed Malaysian holding company operating five non-aviation businesses—AirAsia MOVE (OTA), Teleport (logistics), ADE (MRO), Santan (F&B), and AirAsia Next (brand/IP)—serving consumers, airlines, and eCommerce clients across Southeast Asia and beyond following its January 2026 aviation disposal and May 2026 PN17 exit.
- Ownership category
- akta.pro rank
Capital A industry classification
Industry- Product category
- Diversified Travel, Logistics and Digital Services Holding
- NAICS
- Support Activities for Air Transportation (4881), Support Activities for Transportation (488), Other Support Activities for Air Transportation (48819)
- SIC
- Air Courier Services (4513), Airports, Flying Fields & Airport Terminal Services (4581)
- akta.pro primary industry
- Corporate/SME Air Content Distribution & TMC Enablement (THABAJAM)
- akta.pro secondary industries
- Air Program Technology Enablement & Integration (OBT/TMC/GDS) (THACAHAK), Buyer’s Consolidation & Origin Cargo Management (OCM) (TLACALAC)
Keywords
Where Capital A is headquartered
LocationHeadquarters
- HQ city
- Selangor
- HQ country
- Malaysia
- HQ region
- Asia
Offices3 records
Markets served
Capital A business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Supply Chain
Revenue model
- Online Travel Agency (OTA) - AirAsia MOVE: Commission revenue from flight bookings (700+ airlines), hotel reservations, and ancillary services. B2B contributed 55% of revenue with 23% higher ancillary attach rate than peer OTAs.
- Logistics - Teleport: Cross-border eCommerce logistics services, air cargo, and last-mile delivery across 80+ countries
- MRO Services - Asia Digital Engineering (ADE): Maintenance, repair, and overhaul services for airline operators including AirAsia Group and international carriers like Air France
- F&B - Santan: Inflight catering, corporate catering, B2B supply of ready-to-eat meals to retail chains, convenience stores, coffee chains, restaurants, hotels, and trains; freeze-dried meals and coffee capsules retail
- Islamic Travel Platform - ikhlas.com: Umrah and travel packages, Islamic compliant services (zakat, qurban, aqiqah, sadaqah, fidyah)
- Brand & IP - AirAsia Next: AirAsia rewards loyalty program monetization, brand licensing, and partnership integration
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | Umrah 1448H packages from RM4,990 - lowest market price since 2022 |
| Freemium | Monthly | AirAsia rewards and Versa partnership - RM100 minimum deposit for RM15 welcome reward + 400 AirAsia points |
| Transaction based/ take rate | Pay-as-you-go | AirAsia MOVE booking platform with 23% higher ancillary attach rate than peer OTAs |
Go-to-market motion3 records
Distribution channels7 records
Marketing channels8 records
Capital A product offering
Product offeringCore offering
Capital A Berhad is a publicly listed Malaysian holding company operating a portfolio of five core non-aviation businesses: Asia Digital Engineering (ADE) for aircraft MRO, Teleport for cross-border eCommerce logistics, AirAsia MOVE for online travel agency and booking, AirAsia Next for brand licensing and loyalty, and Santan for inflight catering and F&B. Following the January 2026 disposal of its aviation businesses to AirAsia X, Capital A now focuses on integrated travel, logistics, engineering, food, and digital services across ASEAN and globally.
Product overview
Capital A operates as a diversified non-aviation technology and travel group structured around five core businesses: Asia Digital Engineering (MRO), Teleport (logistics), AirAsia MOVE (OTA), AirAsia Next (brand/IP), and Santan (F&B). Following the January 2026 disposal of its aviation businesses to AirAsia X, Capital A pivoted to grow its non-aviation portfolio, while its Islamic digital platform ikhlas.com and the AirAsia rewards loyalty program operate as sub-brands. ADE also offers digital platforms AEROTRADE (aircraft parts procurement) and ELEVADE (aircraft health management) as technology-driven sub-products.
Differentiator
Problem solved
Functional benefit
Brands
- Asia Digital Engineering (ADE): Maintenance, Repair and Overhaul (MRO) subsidiary providing aircraft maintenance services to AirAsia and international carriers, with EASA and FAA certifications, operating across 20 ASEAN airports.
- Teleport
- AirAsia MOVE
- AirAsia Next
- Santan
- ikhlas.com
Products and services
- Asia Digital Engineering (ADE) Maintenance, Repair and Overhaul (MRO) subsidiary of Capital A providing aircraft line maintenance, base maintenance, component support, and engineering services. Serves AirAsia Group and international carriers including Air France, with EASA and FAA certifications and operations spanning 20 airports across ASEAN.
- Teleport Integrated e-commerce logistics platform and air freight network of Capital A, operating as an asset-light model covering 80+ countries and 290+ cities via 50+ partner airlines. Ranked #1 in Southeast Asia, #9 in Asia, and #13 globally by cargo volume, with a USD 500 million pre-IPO valuation.
- AirAsia MOVE Online Travel Agency (OTA) and digital booking platform of Capital A, serving as the official booking platform for AirAsia flights and a multi-product travel platform offering flights, hotels, attractions, and travel experiences. Generated over MYR 641 million (USD 165 million) in revenue in 2025 with PAT exceeding MYR 54 million.
- AirAsia Next
Quantifiable outcome
- AirAsia MOVE revenue exceeding MYR 641 million ($165 million) in 2025 with PAT over MYR 54 million
- +4 more outcomes
Companies that use Capital A
Customer profileNamed customers5 records
Segments5 records
Ideal customer profiles5 records
Capital A technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
AI capability2 records
Feature5 records
Capital A partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered strategic, minor and core.
- Tourism Authority of Thailand (TAT)strategicAirAsia MOVE signed collaboration agreement with TAT to support Amazing 5 Economy framework, especially Platform Economy pillar, leveraging digital platforms to deliver seamless travel experiences and drive Thailand tourism growth.
- Intebix and Solana FoundationstrategicAirAsia MOVE, Intebix, and Solana Foundation signed LOI to explore integrating Evo (KTZE), a Tenge-denominated stablecoin on Solana, into AirAsia MOVE platform in Kazakhstan for expanded digital payment options.
- MASkargostrategicTeleport and MASkargo (cargo arm of Malaysia Aviation Group) announced strategic collaboration to advance regional air cargo connectivity and support growth of Southeast Asia's air cargo landscape.
- The Hashgraph GroupstrategicTeleport partnership with Hedera (The Hashgraph Group) to develop AI-driven Digital Customs Documentation System built on Hedera's distributed ledger technology for enhanced speed, security, and transparency in cross-border trade.
- GetYourGuidestrategicStrategic partnership integrating GetYourGuide's global attractions catalog into AirAsia MOVE platform. Users can now search and book travel experiences, attractions, and tour packages seamlessly within the MOVE app.
- Touch 'n Gominorikhlas.com partnership with Touch 'n Go for digital fidyah payment access, expanding reach and convenience for Muslims to fulfill obligations through popular digital platform.
- TheNoorminorikhlas.com partnership with TheNoor (Islamic digital lifestyle platform) for digital fidyah payment access, enabling Muslims to fulfil fidyah obligations through widely-used digital platforms.
- ZUstrategicAirAsia rewards partnership with ZU loyalty program enabling ZU Points from daily shopping to be converted to AirAsia points. Integration allows access to 700+ airlines, 1M+ accommodation options, and travel products via MOVE app.
- VersastrategicAirAsia rewards strategic partnership with Versa, Malaysian digital wealth management platform. AirAsia members signing up as new Versa users with minimum RM100 deposit receive RM15 welcome reward plus 400 AirAsia points.
- Standard Chartered Bank MalaysiacoreCapital A and Standard Chartered signed LOI to explore and test a ringgit-denominated stablecoin through Malaysia's Digital Asset Innovation Hub. Standard Chartered serves as issuer while Capital A develops wholesale use cases including real-time settlements and treasury management.
- Kingdom of BahraincoreLetter of Intent with Bahrain's Ministry of Transportation and Telecommunications to establish Bahrain as AirAsia's Middle East hub. Plans include operating 25+ daily flights by 2030, 20M+ passengers annually, MRO facility hiring 1,000+ Bahraini nationals in first year.
- Air France Industries KLM Engineering & Maintenance (AFI KLM E&M)coreLong-term component agreement to maintain AirAsia Group's A321neo fleet of 377 aircraft operating across Malaysia and Thailand. Builds on existing support for A320neo and A330 fleet. AFI KLM E&M provides component support while ADE manages the program.
Scale indicators19 records
Recent moves9 records
Expansion highlights8 records
Capital A competitors and assessment
Company assessmentBroad incumbents
- ST Engineering: Singapore Technologies Engineering operates one of Asia's largest commercial aerospace MRO networks (airframe, engine, component). Directly comparable to ADE on heavy maintenance, line maintenance and digital MRO capabilities across the A320/A321 platform and on competing for international carrier contracts in ASEAN.
- Trip.com Group: Asia-Pacific online travel platform combining OTA, hotel, flight and tour distribution across the same markets Capital A targets with AirAsia MOVE. Comparable as a travel technology aggregator with cross-border flight content (700+ airlines in MOVE's case) and broad ancillary monetization.
- DHL eCommerce / DHL Express: Global cross-border eCommerce logistics and express delivery operator competing directly with Teleport in China-SE Asia and intra-Asia corridors. Comparable as a large-scale, multi-airline partner network serving enterprise eCommerce shippers in the same 80+ countries that Teleport covers.
- Booking Holdings: Global OTA parent of Booking.com, Agoda (a major SE Asia OTA competitor to AirAsia MOVE), Priceline and KAYAK. Comparable as a digital travel distribution platform targeting the same consumer and corporate travel use cases that AirAsia MOVE serves with its 700+ airline and 1M+ hotel inventory.
- Expedia Group: Global OTA parent of Expedia, Hotels.com and Vrbo competing for flight + hotel distribution share with AirAsia MOVE, particularly in the SME/corporate traveler segment and on cross-border flight content aggregation. Comparable as a multi-product OTA platform with loyalty and ancillary monetization.
Direct peers
- J&T Express: SE Asia-anchored cross-border eCommerce logistics platform scaling in similar corridors as Teleport with high parcel volume rankings in the region. Comparable as a regionally dominant eCommerce logistics operator pursuing IPO ambitions analogous to Teleport's plans.
- Traveloka: Indonesia/SE Asia-headquartered OTA offering flights, hotels, attractions and lifestyle services — directly overlapping with AirAsia MOVE across the same ASEAN consumer base. Traveloka is the most comparable SE Asia pure-play OTA competitor.
- Agoda (Booking Holdings): SE Asia-heavy OTA (part of Booking Holdings) with deep ASEAN hotel and flight distribution footprint. Closest direct competitor to AirAsia MOVE in Malaysia, Thailand, Indonesia, Philippines and Vietnam for budget-conscious and intra-ASEAN leisure travel.
- SIA Engineering Company: Singapore-headquartered third-party commercial aircraft MRO provider competing for the same non-home-carrier component support and heavy maintenance work ADE is targeting post-AirAsia disposal. Comparable as an Asia-based, multi-certified MRO with airline base maintenance, line maintenance and component support offerings.
Regional players
- Cathay Pacific Services (CLS) / Hong Kong Aero Engine Services: Hong Kong-headquartered MRO joint ventures serving A320 family and widebody fleets across Asia. Comparable third-party commercial MRO competitor to ADE for line/base maintenance contracts outside Malaysia, particularly for airlines seeking EASA/FAA-certified maintenance outside Singapore.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat7 records
Key risks6 records
Key highlights7 records
Customer concentration
Capital A social profiles
Digital presenceCapital A compliance and trust
Trust signalCompliance6 records
Capital A financial estimates
Financial estimateRevenue estimate
Valuation estimate
Capital A leadership team
Management profileNumber of profiles
Profiles8 records
Capital A subsidiaries and ownership
Company hierarchySubsidiaries7 records
Capital A funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Capital A M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Capital A
What does Capital A do?
Capital A Berhad is a publicly listed Malaysian holding company operating a portfolio of five core non-aviation businesses: Asia Digital Engineering (ADE) for aircraft MRO, Teleport for cross-border eCommerce logistics, AirAsia MOVE for online travel agency and booking, AirAsia Next for brand licensing and loyalty, and Santan for inflight catering and F&B. Following the January 2026 disposal of its aviation businesses to AirAsia X, Capital A now focuses on integrated travel, logistics, engineering, food, and digital services across ASEAN and globally.
Is Capital A a public or private company?
Capital A is a public company. It is classified as public and is currently operating.
When was Capital A founded?
Capital A was founded in 2001. It employs 5,001 to 10,000 people.
Where is Capital A based?
Capital A is headquartered in Selangor, Malaysia, in the Asia region.
How does Capital A make money?
Six revenue lines are on record. Online Travel Agency (OTA) - AirAsia MOVE is the primary driver. The others are logistics - Teleport, MRO Services - Asia Digital Engineering (ADE), F&B - Santan, islamic Travel Platform - ikhlas.com and brand & IP - AirAsia Next.
Who are Capital A's main competitors?
Broad incumbents on record are ST Engineering, Trip.com Group, DHL eCommerce / DHL Express, Booking Holdings and Expedia Group. Direct peers are J&T Express, Traveloka, Agoda (Booking Holdings) and SIA Engineering Company. Cathay Pacific Services (CLS) / Hong Kong Aero Engine Services is listed as a regional player.
Does Capital A have an API?
No public API is recorded for Capital A.
What industry is Capital A in?
Capital A's product category is Diversified Travel, Logistics and Digital Services Holding. Its primary akta.pro industry code is THABAJAM, Corporate/SME Air Content Distribution & TMC Enablement, with a secondary code of THACAHAK, Air Program Technology Enablement & Integration (OBT/TMC/GDS). Its NAICS code is 4881 and its SIC code is 4513.