KUALA LUMPUR: AirAsia X Bhd
(AAX) has announced a group-wide debt and corporate restructuring scheme, as the cash-starved budget airline seeks to avoid liquidation and restart some flight operations early next year.
“To avoid a liquidation and to allow the airline to fly again, the only option is for AAX to undertake a group-wide debt and corporate restructuring and update its business model to survive and thrive in the long term,” AAX said in a filing with Bursa Malaysia today.
“The right-sizing of the Group’s level of operations and its financial obligations are pre-requisites for the raising of any fresh capital, comprising both equity and debt, that will be used to support the implementation of the Group’s revised business plan,” …
Read the full article at: https://www.thestar.com.my/business/business-news/2020/10/06/airasia-x-announces-debt-and-corporate-restructuring