AAX to revise share capital reduction to 99.9%

The proposed share consolidation of every 10 existing AAX shares into one AAX share shall remain unchanged.

PETALING JAYA: Long-haul low-cost carrier AirAsia X Bhd (AAX) has planned to revise its proposed reduction of 90% of its issued share capital to 99.9%.

This would comprise a reduction of issued share capital of RM1.53bil to RM1.53mil and the credit arising from this reduction will be used to offset part of its accumulated losses.