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AirAsia X readies for takeoff after creditors endorse restructuring

Malaysian budget carrier AirAsia X is closer to resuming flights after shareholders overwhelming endorsed the company’s debt restructuring last week.

But the airline has hit a potential road bump in its plan after Malaysia’s aviation regulator warned it should reimburse passengers who bought tickets.

Some 99% of creditors across the company’s three share classes voted in favour of the restructuring proposal which AAX said would be presented for court endorsement in the coming weeks.

READ: Indigo Partners in massive order for A321neo family aircraft

The restructuring, which has attracted criticism from some quarters. will see creditors receive just 0.5% of the debt owed read more ⇒

Source:: AirlineRatings.Com

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