News

AirAsia X Shows Court Creditors Support for Changing Plan

0

KUALA LUMPUR, Jan 14 Reuters Most of AirAsia X Bhds AAX lessors support a restructuring plan, and the Malaysian airline has received interest from potential investors for fundraising after reorganization, court documents filed this month show.

In emails attached to the court filings, supportive lessors said they wanted to continue discussions with the budget airline and potential new investors, seeking more equitable terms and new commercial arrangements.

The affidavits come after more than a dozen creditors filed to intervene with its proposed courtsupervised restructuring, with lessor BOC Aviation Ltd and airport operator Malaysia Airports Holdings Bhd arguing that AAX is hopelessly insolvent.

Planemaker Airbus SE also filed an affidavit last month saying it could lose more than 5 billion worth of aircraft orders if the lowcost, longhaul carrier proceeded with the plan.

AAXs senior legal counsel, Shereen Ee, said in court documents seen by Reuters that 15 out of 20 aircraft lessors were not in favour of AAX liquidating, while RollsRoyce Group and interveners Airbus, and BNP Paribas were not objecting to the restructuring plan.

Lessors in favour of a restructuring include Macquarie Aircraft Leasing Services and Aircastle, according to the documents. Aircastle did not immediately respond to requests for comment, while Macquarie, RollsRoyce and AAX declined to comment.

An Airbus spokesman also declined to comment, saying that the company was continuing discussions…

Grayscale Investments Liquidates All of its XRPWhile it Can

Previous article

London Stocks Set for Weekly Loss; Indivior Jumps

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in News