ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Transportation

AirAsia X creditors agree to take 99.5% haircut

Long-haul carrier wins approval for drastic debt restructuring plan

AirAsia's long-haul sister carrier AirAsia X has avoided liquidation after a deal with creditors.
AirAsia X will have to pay back less than a penny on the dollar on $8.1 billion in liabilities.   © EPA/Jiji

KUALA LUMPUR -- Creditors of budget carrier AirAsia's long-haul sister airline have approved a debt restructuring arrangement that proposes paying 0.5% of the debt owed and disbanding all existing obligations.

The creditors -- airports, aircraft manufacturer Airbus, passengers and travel agents -- approved the restructuring of $8.1 billion in liabilities, AirAsia X said in a statement on Friday.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more