It’s do or die for AirAsia X

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 RM63bil in liability and instead accept a maximum RM200mil in payment.