KONTAN.CO.ID - KUALA LUMPUR. All three groups of creditors of Malaysian long-haul low-cost airline AirAsia X (AAX) have agreed to a restructuring scheme that proposes to pay just 0.5% of debt owed and to terminate all existing contracts, a person familiar with the matter said. AAX said on Friday the first of three groups had voted 100% in favour of the plan to restructure 33.65 billion ringgit ($8.1 billion) of liabilities and the second had voted 97.6% in favour. The only creditor in the final group is planemaker Airbus , which has also voted in favour of the deal, the person told Reuters on condition of anonymity, confirming an earlier report by Bloomberg News.
Creditors vote in favour of AirAsia X restructuring plan
KONTAN.CO.ID - KUALA LUMPUR. All three groups of creditors of Malaysian long-haul low-cost airline AirAsia X (AAX) have agreed to a restructuring scheme that proposes to pay just 0.5% of debt owed and to terminate all existing contracts, a person familiar with the matter said. AAX said on Friday the first of three groups had voted 100% in favour of the plan to restructure 33.65 billion ringgit ($8.1 billion) of liabilities and the second had voted 97.6% in favour. The only creditor in the final group is planemaker Airbus , which has also voted in favour of the deal, the person told Reuters on condition of anonymity, confirming an earlier report by Bloomberg News.
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