Airbus to lose over $5 bn in orders under AirAsia X’s restructuring scheme

KUALA LUMPUR (Reuters) – Planemaker Airbus has said it stands to lose more than $5 billion worth of orders if AirAsia X Bhd’s (AAX) debt restructuring scheme goes through, court documents showed, joining more than a dozen creditors that have challenged the Malaysian low-budget carrier’s plan.

Airbus’s challenge comes as AAX defends its scheme from claims by key lessor BOC Aviation (BOCA) that it favoured Airbus and lacked a debt-to-equity swap offer for creditors.

In a Dec. 16 affidavit filed at Kuala Lumpur High Court, Airbus’s Asia-Pacific Head of Region Anand Stanley said there was a strong possibility Airbus “will suffer substantial losses and prejudice” from termination of purchase agreements.