AirAsia X proposes to pay 0.5% of RM34bil debt owed to creditors

The low-cost long-haul airline, a sister carrier to AirAsia Group Bhd, said in a filing with the stock exchange that it had set Nov 12 for creditor meetings to vote on the restructuring proposal.

KUALA LUMPUR: AirAsia X Bhd (AAX) is proposing to pay just 0.5% of debt owed to each of its creditors and to terminate all existing contracts so that it can restructure RM33.65bil of liabilities, a document seen by Reuters shows.

The low-cost long-haul airline, a sister carrier to AirAsia Group Bhd, said in a filing with the stock exchange that it had set Nov 12 for creditor meetings to vote on the restructuring proposal.