No impact to shareholdings

PETALING JAYA: Long-haul budget airline AirAsia X Bhd (AAX) expects its proposal for the RM63.5bil debt restructuring exercise will not have any effects on its share capital, substantial shareholders’ shareholdings, as well as the group’s structure.

In a filing with Bursa Malaysia, the sister company of AirAsia Bhd said the exercise, however, would impact the company’s earnings per share, net assets per share and gearing.

The airline said it planned a massive debt restructuring proposal in which the airline will reconstitute approximately RM63.5bil in excess of the debt settlement worth RM200mil owing to the creditors on a pari passu basis.

“Subject to the proposed debt restructuring being approved and implemented, AAX proposes that airline customers and travel agents receive travel credits for future travel or purchase of seat inventory, ” it said.

It added that the proceeds would be used to offset the accumulated losses of AAX.

– Bernama

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