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HONG KONG (Bloomberg): The nightmare year of 2020 brought the airline industry’s first decade of sustained profitability to a shuddering halt.
KUALA LUMPUR: The sight of aircraft grounded and parked globally in March this year due to travel restrictions and border closures imposed to control the spread of the novel coronavirus was just a beginning of the grave consequences that was in store for the sector throughout 2020.
KUALA LUMPUR: Bursa Malaysia ended the morning session on a firm note, with the key index staying in positive territory as sentiment in the market recovered following rising hope for a COVID-19 vaccine.
KUALA LUMPUR: Aircraft manufacturer Airbus SE said it stands to lose more than $5 billion worth of aircraft orders if AirAsia X Bhd's (AAX) debt restructuring scheme goes through, court documents showed, joining a dozen creditors that have challenged the Malaysian low-budget carrier's plan.
AIRASIA X Bhd (AAX), Malaysia’s long-haul low-cost carrier, is perhaps, seen as the first victim of the Covid-19 pandemic when it called upon a restructuring scheme to resurrect the airline back to life after being hard hit by lockdowns and consumer demand that just evaporated overnight.
KUALA LUMPUR: Lessor BOC Aviation Ltd (BOCA) has asked a Malaysian court to dismiss AirAsia X Bhd’s debt restructuring scheme as it rules out a debt-to-equity swap and gives too much power to Airbus as a creditor, an affidavit filed by a top BOCA executive shows.
KUALA LUMPUR: The FBM KLCI turned positive in late-morning trading as the final reading of Budget 2021 came underway in Parliament.