AirAsia X gains green light to restructure

SEPANG, 4 June 2021: AirAsia X Berhad has received approval from its shareholders to set in motion a corporate restructuring as outlined in a recovery plan presented to the shareholders and following the voting process at the company’s extraordinary general meeting on Tuesday.

The approval marks a major milestone in the corporate restructuring process. All resolutions were passed with at least a 99.8% margin.

These approvals have been obtained simultaneously, with final negotiations being held with creditors, the airline reported.

The company and its restructuring advisers, New York-based Seabury Capital conducted a series of discussions with lessors and other creditors after the approval granted by the court to convene the Court Convened Meeting now scheduled for late July or August.

In its statement, Tuesday, AirAsia X Berhad said it was committed to resuming commercial operations as soon as possible on successful completion of the restructuring plan and the opening of international borders.