Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Creditors can't sue AirAsia X for another 9 months, says Malaysia court

Published 06/18/2021, 01:31 AM
Updated 06/18/2021, 01:45 AM
© Reuters. FILE PHOTO: Tail of AirAsia X plane as seen at the Garuda Maintenance Facility AeroAsia in Tangerang, Indonesia, September 20, 2017.  REUTERS/Beawiharta/File Photo

KUALA LUMPUR (Reuters) - 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 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 ($15.5 billion) debt.

© Reuters. FILE PHOTO: Tail of AirAsia X plane as seen at the Garuda Maintenance Facility AeroAsia in Tangerang, Indonesia, September 20, 2017.  REUTERS/Beawiharta/File Photo

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.

($1 = 4.1390 ringgit)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.