AirAsia X to raise RM500mil via rights and new shares sale

The fundraising will be undertaken after the completion of a RM63.5bil debt restructuring scheme proposed in October to enable AAX to continue as a going concern, for which the airline is seeking the approval of its creditors.

KUALA LUMPUR: AirAsia X Bhd (AAX) is planning to raise RM500mil through a rights issue to existing shareholder and allotment of new shares to new investors.

The gross proceeds to be raised will be used to finance its working capital for the next 24 months, the long haul budget airline said in a filing with Bursa Malaysia today.