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Malaysia’s AirAsia X to stave off liquidation with US$15b debt restructure | Malay Mail

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KUALA LUMPUR, Oct 7 — Malaysian budget airline AirAsia X Bhd (AAX), the long-haul arm of AirAsia Group Bhd, said it has proposed restructuring US$15.3 billion (RM63.6 billion) of debt and reducing its share capital by 90 per cent to continue as a going concern. AAX said it has severe liquidity...

Tuesday, 06 Oct 2020 07:24 PM MYT

AAX said it has severe liquidity constraints and, with no return to normalcy in sight, “imminent default of contractual commitments will precipitate a potential liquidation.” AAX’s announcement comes days after Malaysia Airlines said it had reached out to lessors, creditors and suppliers for urgent restructuring due to the pandemic.

 

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