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AirAsia Shares Down Today After Debt Payment Proposal

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AirAsia shares down today after debt payment proposal. The low-cost that is Malaysian flight, a sis provider to cash-strapped AirAsia Group Bhd. This was stated in a stock market filing on Monday it had set a night out together of Nov. 12 for creditor conferences to vote in the restructuring proposition.

Expert Opinion on The Proposal

“To prevent a liquidation and also to enable the flight to travel once again, the choice that is just for AAX to try the proposed debt restructuring,”. The airline stated in a 127-page explanation statement for the creditors meeting seen by Reuters. 50 % of the debt may be the cost of stopping airplane purchases. Purchases from the creditor Airbus SE (OTC:EADSY) for 78 A330neo widebodies and 30 A321neo narrow bodies, the document stated.

AAX additionally proposed that when it had been to get a lot more than 300 million ringgit ($72 million) in yearly profits before interest, taxation, depreciation and amortization. Rent rentals and other expenses during its 2023-2026 years which can be all creditors except Airbus will be up for for 20% of the profits. Other people are of Malaysia Airlines, Virgin Australia, Thai Airways and Philippine Airlines.

AAX

AAX additionally stated its in negotiations with lessors of 29 planes. Also, specific other creditors on commercial terms for continued or company that is future. Its lessors which are offering choice of continuing to rent planes to AAX on brand new terms or even to accept the termination of this rent and also have the relevant planes came back. Two lessors have previously suggested they would like to end the leases, AAX stated within the document. MetaNews reports that AirAsia shares down today after debt payment proposal.

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