KUALA LUMPUR (Sept 17): AirAsia X Bhd (AAX) has made "substantial progress" in months-long talks with creditors, as it aims to convene meetings with them to vote on a restructuring scheme by the end of October, its chief executive said. The airline, an affiliate of AirAsia Group, also hopes to complete talks with potential investors for its recapitalisation by the end of the year. Benyamin said talks with creditors were in the final stages and all had indicated they want to see the airline proceed with its restructuring. "Creditors, including lessors and Airbus, understandably don't want to see the airline fall, as they stand to lose a lot. The decision to work with AirAsia X to restructure is to salvage whatever they can," he said.

Source: The Edge Markets September 17, 2021 04:41 UTC