SEPANG, Malaysia, 8 October 2020 AirAsia announced this week a restructuring plan that will inject fresh equity to allow the airline to resume operations.
AirAsia X also appointed Dato Lim Kian Onn as the deputy chairman to lead the airlines restructuring. A chartered accountant and investment banker, her has served as a board member of the airline since 2012.
AirAsia X is facing severe liquidity constraints due to travel and border restrictions that grounded all scheduled flights. The airline said there was no evidence of an imminent return to normalcy. It warned that an imminent default of contractual commitments would precipitate a potential liquidation of the airline.
Its media statement read: A major debt restructuring and a rene…
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