AirAsia X is pleased to announce that AAX AVIATION CAPITAL LTD., the wholly-owned subsidiary of the ultimate holding company, AirAsia X, has on 21st May 2018 incorporated AAX LEASING TWO LTD. (“AL2”) (Company No.: LL14775) and AAX LEASING THREE LTD. (“AL3”) (Company No.: LL14776), both of which are private limited companies under the Labuan Companies Act 1990 to facilitate the leasing of aircraft.

The issued share capital of both AL2 and AL3 respectively, is USD100 comprising 1,000 ordinary shares of USD0.10 each and will be raised accordingly to cater for its operational needs. The Directors of the subsidiaries presently are Benyamin Ismail and Wong Mee Yen.

The incorporation of AL2 and AL3 are not expected to have any immediate effect on the issued and paid-up share capital or substantial shareholders’ shareholding in AirAsia X.

The establishment of AL2 and AL3 are also not subject to the approval of the shareholders of the Company and any other regulatory authorities in Malaysia.

This announcement is dated 24th May 2018.