2 weeks It’s do or die for AirAsia X: debt forgiveness or shut down for good Inquirer
KUALA LUMPUR --- AirAsia X Bhd (AAX), now at an existential crossroads, is in dire need of massive debt forgiveness from its creditors, or be prepared to shut its business down for good. The low-cost, medium-haul airline, which has grounded all its flights due to the Covid-19 outbreak, is asking creditors and suppliers to forgo over RM 63 billion ($15.2 billion) in liability and instead accept a maximum RM 200 million ($48.3 million) in payment. While the proposal may sound atrocious, analysts think many creditors would, in fact, accept the offer. After all, if the proposed debt restructuring fails, the ... more