First group of creditors backs Malaysia's AirAsia X restructuring plan

First group of creditors backs Malaysia's AirAsia X restructuring plan

REUTERS/Beawiharta

Malaysian long-haul low-cost airline AirAsia X (AAX) said on Friday that 100% of the first of three groups of creditors had agreed to a restructuring scheme that proposes to pay just 0.5% of debt owed and to terminate all existing contracts.

The three different classes of creditors, which include Airbus SE, BOC Aviation Ltd and Rolls-Royce Holdings PLC, have all voted in favour of the plan, Bloomberg News reported, citing a person familiar with the matter.

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