KUALA LUMPUR: Malaysian long-haul budget airline AirAsia X Bhd (AAX) has proposed a separate restructuring programme for its aircraft lessors that aims to tackle their concerns, citing a chance to recover rental losses, a document seen by Reuters shows.
The airline, an affiliate of AirAsia Group, has been trying for months to reconstitute RM64.15 billion (US$15.9bil) of debt into RM200 million of debt. More than a dozen creditors, mostly lessors, had intervened in court to challenge a proposal that would have meant a haircut for them of 99.7%.