AirAsia X says it will give travel credits to passengers affected by its debt restructuring


KUALA LUMPUR: AirAsia X (AAX) has given assurance that it will put in place travelling privileges in the form of travel credits for its passengers who are affected by its debt restructuring, where the credits can be utilised for future purchases of flight tickets once international borders reopen.

AAX said the affected passengers would also receive the 0.5 per cent payment of what is owed and other cash-based entitlements based on its annual revenue performance over three years as explained in the explanatory statement issued to all creditors recently.

The airline said this in response to clarify various media reports on passenger classification and their entitlements as classified under the scheme of arrangement that was supported by 99 per cent of all its creditors.

"Please note that these entitlements and the travel credits can only take place if AAX is successfully restructured pursuant to the terms of the scheme. If the terms of the scheme are not complied with and the scheme fails, AAX will go into liquidation and the passengers will not receive anything in return. It is not the intention of AAX to place the passengers in this situation,” it said in a statement today. "AirAsia X’s policies are in line with many operators in the travel industry worldwide and are fully compliant with all regulatory requirements in each of the regions we operate in.”

The airline noted that it has ongoing dialogues with all consumer regulators across the region to ensure compliance and is ISO-certified for customer complaint management, which is a global benchmark for maintaining the highest standards. - Bernama
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

   

Next In Business News

FBM KLCI in negative territory at midday
China's Q4 and 2021 GDP grow faster than expected
Foreign investors became net buyers every day last week
Singapore's December exports rise 18.4%, above forecasts
China cuts rates on policy loans for first time since April 2020
Ringgit opens easier against US dollar
MIDF Research maintains 'neutral' on Maxis
Bursa opens easy in early trade
Trading ideas: AirAsia, KESM, Ageson, Lion Industries, Jade Marvel
Business summary from Jan 10-14

Others Also Read


Vouchers