AirAsia Group intends to change its name to Capital A, a move similar to the likes of Google (Alphabet) and Facebook (Meta).

This comes as the company's line of services continues to stretch beyond its core airline business, expanding into food delivery, logistics, and even financial technology.

According to a report by Nikkei, the name change has already been approved by the Companies Commission of Malaysia, but is still subject to shareholders' approval.

Upon the name change, the group will retain 'AirAsia' solely to reflect its airline business.

Since the advent of the global pandemic and slowing travel, AirAsia's revenues have significantly declined, forcing the company to diversify into other sectors.

Back in September 2021, the company posted a loss of $527 million.