{"id":377377,"date":"2020-10-08T11:23:53","date_gmt":"2020-10-08T05:53:53","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=377377"},"modified":"2020-10-08T11:23:53","modified_gmt":"2020-10-08T05:53:53","slug":"airasia-x-proposes-15-billion-debt-restructure-to-stave-off-liquidation","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/airasia-x-proposes-15-billion-debt-restructure-to-stave-off-liquidation\/","title":{"rendered":"AirAsia X proposes $15 billion debt restructure to stave off liquidation"},"content":{"rendered":"<p>Malaysian budget airline AirAsia X Bhd (AAX), the long-haul arm of AirAsia Group Bhd , said it has proposed restructuring $15.3 billion of debt and reducing its share capital by 90% to continue as a going concern.<\/p>\n<p>AAX said it has severe liquidity constraints and, with no return to normalcy in sight, &#8220;imminent default of contractual commitments will precipitate a potential liquidation.&#8221;<\/p>\n<p>Group-wide debt restructuring and renegotiation of financial obligations, as well as updating its business model, are pre-requisites to raising fresh equity and debt, which will be required to restart the airline, it said late on Tuesday.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Malaysian budget airline AirAsia X Bhd (AAX), the long-haul arm of AirAsia Group Bhd , said it has proposed restructuring $15.3 billion of debt and reducing its share capital by 90% to continue as a going concern. AAX said it has severe liquidity constraints and, with no return to normalcy in sight, &#8220;imminent default of contractual commitments will precipitate a potential liquidation.&#8221; Group-wide debt restructuring and renegotiation of financial obligations, as well as updating its business model, are pre-requisites to raising fresh equity and debt, which will be required to restart the airline, it said late on Tuesday.<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[188,139,130],"tags":[],"class_list":["post-377377","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-live-mint","category-live-mint","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/377377","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=377377"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/377377\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=377377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=377377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=377377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}