A raw deal from AAX

THIS column had previously written about AirAsia X Bhd’s (AAX) proposed restructuring scheme as published on Dec 21, 2020. At that point, a call was made for AAX to come clean on the figures that constitute its restructuring scheme and whether the RM63.5bil figure being bandied about then was an overestimation or otherwise.

Well, guess what? AAX, in a 127-page explanatory statement to the scheme’s creditors last week, outlined a planned restructuring scheme involving RM33.65bil, comprising RM4.27bil in outstanding accrued liabilities and RM29.38bil in termination claims, into just RM21.3mil, which will be paid one year after the scheme is effective.