AAX fights to survive the axe

PublicInvest Research said the the AirAsia debt restructuring exercise was needed to address the airline’s stretched cash flow and current liquidity constraints, though the significant haircut expected to be assumed by its creditors may be a sticking point,

PETALING JAYA: Debt-laden AirAsia X Bhd’s (AAX) major restructuring plan will be the first step to ensure its own survival with its fleet still grounded due to travel and movement restrictions.

The restructuring and rehabilitation of the airline is likely to be a long-drawn saga, but the group has also conceded it is a necessary move to avoid liquidation.