AirAsia X creditors approve restructuring plan

KUALA LUMPUR: AirAsia X (AAX) creditors have agreed to a restructuring that will pay just 0.5% of debt owed and end its existing contracts, the Malaysian long-haul low-cost airline said on Friday.

AAX said the first of three groups of creditors had voted 100% in favour of the plan to restructure 33.65 billion ringgit ($8.1 billion) of liabilities and the second had voted 97.6% in favour.