AAX Structure Will Change! - Kakiforex.com - Financial Market Media No. 1 in the World AAX Structure Will Change! AAX Structure Will Change!

June 2, 2021

AAX Structure Will Change!

 AirAsia X Bhd (AAX) has obtained approval from its shareholders for the company's proposed restructuring to be implemented as planned at AAX's extraordinary general meeting (EGM) yesterday.

In a statement yesterday, AAX said the approval marked a major breakthrough in the company’s restructuring process.

“All resolutions were passed with at least a 99.8%margin. This approval was obtained simultaneously with the final negotiations held with creditors, "said the statement.

The company and its structuring advisor, New York -based Seabury Capital have been in active, productive discussions with lessors and other creditors following court -granted consent to hold a meeting.

Bernama reported that the restructuring is scheduled to be implemented by the end of July or August.

Adding to the statement, AAX is committed to restarting commercial operations as soon as possible after completing the restructuring plan and opening of international border gates.