Creditors can't sue AirAsia X for another 9 months, says Malaysia court
Tail of AirAsia X plane as seen at the Garuda Maintenance Facility AeroAsia in Tangerang, Indonesia, Sept 20, 2017.
PHOTO: Reuters
PUBLISHED ONJune 18, 2021 6:59 AM
KUALA LUMPUR - The Malaysian high court has granted AirAsia X Bhd a nine-month extension on a restraining order which prevents creditors from filing any legal proceedings against it, the airline said in a stock exchange filing.
The filing on Thursday (June 17) said the extension runs nine months from the day of the announcement.
The court had granted a restraining order in March for three months, as the budget airline undergoes a restructuring of its 64.15 billion ringgit (S$20.7 billion) debt.
Earlier this month, AirAsia X shareholders approved its debt restructuring, allowing it to pursue a scheme it viewed as key to survival which includes a rights issue and a share subscription for new investors to raise 500 million ringgit.
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