KUALA LUMPUR: 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, has also been talking to potential investors for its recapitalisation, and hopes to complete discussions by the end of the year. Benyamin said talks with creditors are in the final stages and all have indicated they want to see the airline proceed with its restructuring. The main commercial terms are already out of the way," he said, referring to negotiations with lessors. In a court document filed on Monday, AAX said negotiations are still afoot but "various letters of undertaking have been secured" from creditors.

Source: The Star September 17, 2021 03:56 UTC