UPDATE 1-Malaysia s AirAsia X assures recovery for lessors in new restructuring proposal Reuters 2/22/2021 Airline says lessors expected to have at least 60% recovery rate Calls steep haircut in earlier plan a misinterpretation (Adds comments from BOC Aviation, AerCap and consultant; court order)
By Liz Lee
KUALA LUMPUR, Feb 21 (Reuters) - Malaysian long-haul budget airline AirAsia X Bhd (AAX) has proposed a separate restructuring programme for its aircraft lessors that aims to tackle their concerns, citing a chance to recover rental losses, a document seen by Reuters shows.
The airline, an affiliate of AirAsia Group, has been trying for months to reconstitute 64.15 billion ringgit ($15.9 billion) of debt into 200 million ringgit of debt. More than a dozen creditors, mostly lessors, had intervened in court to challenge a proposal that would have meant a haircut for them of 99.7%.
KUALA LUMPUR (Feb 22): The main index at Bursa Malaysia slipped at the midday break as index-linked glove makers dragged, against the backdrop of guarded gains at regional markets.
At 12.30pm, the FBM KLCI fell 4.14 points to 1,580.79. The index had earlier climbed to a high of 1,587.51.
Gainers led losers by 453 to 380, while 726 counters traded unchanged. Trading volume was 8.12 billion shares valued at RM3.08 billion.
The top losers included Hartalega Holdings Bhd, Supermax Corp Bhd, Top Glove Corp Bhd, ViTrox Corp Bhd, Tasco Bhd, Mi Technovation Bhd, Nestle (M) Bhd, Malaysian Pacific Industries Bhd, Amtel Holdings Bhd, Press Metal Aluminium Holdings Bhd and Khind Bhd.
Malaysia s AirAsia X assures recovery for lessors in new restructuring proposal - document Reuters 2/21/2021 New proposal with revised terms proposed for aircraft lessors Airline says lessors expected to have at least 60% recovery rate Calls steep haircut in earlier plan a misinterpretation
By Liz Lee
KUALA LUMPUR, Feb 21 (Reuters) - Malaysian long-haul budget airline AirAsia X Bhd (AAX) has proposed a separate restructuring programme for its aircraft lessors that aims to tackle their concerns, citing chance to recover rental losses, a document seen by Reuters shows.
The airline, an affiliate of AirAsia Group, has for months been trying to reconstitute 64.15 billion ringgit ($15.89 billion) of debt into 200 million ringgit of debt. More than a dozen creditors, mostly lessors, had intervened in court to challenge a proposal that would have meant a haircut for them of 99.7%.
Malaysian long-haul budget
airline AirAsia X Bhd has proposed a separate
restructuring programme for its aircraft lessors that aims to
tackle their concerns, citing chance to recover rental losses,. | February 25, 2021
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