Thursday, 29 Oct 2020 05:12 PM MYT
The budget carrier is seeking to reconstitute the RM64 billion of unsecured debt into a principal amount of RM200 million and have the rest waived. The source said AirAsia X, the long-haul arm of AirAsia Group Bhd, has less than six months of cash left and has been looking to convene a meeting of creditors to vote on the scheme.“Fundraising is expected to take a couple of months at least so it’s imperative for the company to complete restructuring by January or February.”Airport operator MAHB said on Sunday its attempt to recover debt from AirAsia X would not derail the airline’s scheme.
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