UPDATE 1-Malaysia s AirAsia X assures recovery for lessors in new restructuring proposal Reuters 2/22/2021 Airline says lessors expected to have at least 60% recovery rate Calls steep haircut in earlier plan a misinterpretation (Adds comments from BOC Aviation, AerCap and consultant; court order)
By Liz Lee
KUALA LUMPUR, Feb 21 (Reuters) - Malaysian long-haul budget airline AirAsia X Bhd (AAX) has proposed a separate restructuring programme for its aircraft lessors that aims to tackle their concerns, citing a chance to recover rental losses, a document seen by Reuters shows.
The airline, an affiliate of AirAsia Group, has been trying for months to reconstitute 64.15 billion ringgit ($15.9 billion) of debt into 200 million ringgit of debt. More than a dozen creditors, mostly lessors, had intervened in court to challenge a proposal that would have meant a haircut for them of 99.7%.
Malaysian court orders AirAsia X to convene creditor meetings within 6 months thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.
Malaysia s AirAsia X assures recovery for lessors in new restructuring proposal - document Reuters 2/21/2021 New proposal with revised terms proposed for aircraft lessors Airline says lessors expected to have at least 60% recovery rate Calls steep haircut in earlier plan a misinterpretation
By Liz Lee
KUALA LUMPUR, Feb 21 (Reuters) - Malaysian long-haul budget airline AirAsia X Bhd (AAX) has proposed a separate restructuring programme for its aircraft lessors that aims to tackle their concerns, citing chance to recover rental losses, a document seen by Reuters shows.
The airline, an affiliate of AirAsia Group, has for months been trying to reconstitute 64.15 billion ringgit ($15.89 billion) of debt into 200 million ringgit of debt. More than a dozen creditors, mostly lessors, had intervened in court to challenge a proposal that would have meant a haircut for them of 99.7%.
Malaysian long-haul budget
airline AirAsia X Bhd has proposed a separate
restructuring programme for its aircraft lessors that aims to
tackle their concerns, citing chance to recover rental losses,. | February 25, 2021
AirAsia X assures recovery for lessors in restructuring plan arabnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from arabnews.com Daily Mail and Mail on Sunday newspapers.