The tail of an AirAsia X plane is seen at the Garuda AeroAsia maintenance facility in Tangerang, Indonesia. (Reuters Photo)KUALA LUMPUR: The long-haul budget carrier AirAsia X Bhd has run out of money and needs to raise up to 500 million ringgit (US$120 million) to restart the airline, according to deputy chairman Lim Kian Onn. He said AirAsia X also needed to convince its lessors of its business plan, adding that an unnamed lessor recently took back one of the airline’s planes to convert it to a freighter. The airline plans to liquidate its small Indonesia-based carrier and has completely written down its stake in Thai AirAsia X, with the Thai carrier not part of the restructuring scheme, Lim told the newspaper. AirAsia X declined to comment beyond the details published in the newspaper article.

Source: Bangkok Post October 17, 2020 07:52 UTC