Shares in AirAsias long-haul unit jumped after the Malaysian airline said its investors had approved a restructuring plan that could pave the way for it to resume commercial operations when international borders reopen.
AirAsia Xs stock closed 6.7 per cent higher in Kuala Lumpur on Wednesday, a day after the airline said shareholders had approved resolutions regarding the restructuring with a margin of at least 99.8 per cent. The carrier called the development a major milestone in the corporate restructuring process.
Saddled with RM63.5bn ($15.4bn) of debt, AirAsia X in October unveiled the restructuring plan as a last-ditch attempt to save its business and to cope with severe liquidity constraints. However, the plan could still hit tur…
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