AirAsia X wishes to announce that AAX Capital II Ltd (“AAX Capital II”) was incorporated on 20 October 2014 as a wholly-owned subsidiary of the Company.  

AAX Capital II was incorporated in Labuan under the Labuan Companies Act 1990, as a company limited by shares. The issued and paid-up share capital of AAX Capital II is USD1.00 comprising 1 ordinary share of USD1.00. The intended principal activity of AAX Capital II is a special purpose financing vehicle for the AirAsia X group of companies.            

For the purpose of incorporation, ZICO Trust Limited (formerly known as ZICOlaw Trust Limited) (“ZTL”) subscribed 1 ordinary share of USD1.00 and held for and on behalf of the Company. ZTL had transferred 1 ordinary share of USD1.00 it held to the Company, thus making AAX Capital II a wholly-owned subsidiary of AirAsia X.                                                     

The Resident Director and Resident Secretary for AAX Capital II are ZICO Secretarial Services Sdn. Bhd. (formerly known as Zaid Ibrahim Secretarial Services Sdn. Bhd.).

The incorporation of AAX Capital II is not expected to have effect on the issued and paid-up share capital or substantial shareholders’ shareholdings of the Company and is not expected to have any material effect on the earnings, net assets and gearing of the Company for the financial year ending 31 December 2014.

None of the Directors and/or substantial shareholders of the Company or persons connected with them have any interest, direct or indirect, in the said incorporation.

This announcement is dated 21^st day of October 2014.