KUALA LUMPUR (Reuters) – All three groups of creditors of Malaysian long-haul low-cost airline AirAsia X (AAX) have agreed to a restructuring scheme that proposes to pay just 0.5% of debt owed and to terminate all existing contracts, a person familiar with the matter said.
AAX said on Friday the first of three groups had voted 100% in favour of the plan to restructure 33.65 billion ringgit ($8.1 billion) of liabilities and the second had voted 97.6% in favour.
The only creditor in the final group is planemaker Airbus, which has also voted in favour of the deal, the person told Reuters on condition of anonymity, confirming an earlier report by Bloomberg News.
