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AirAsia X gets court order to block legal action during its restructuring
Budget airline AirAsia X has been granted relief from any imminent legal action. The High Court granted a three-month restraining order against any legal proceedings that may be filed. The airline sought this so that any lawsuit doesn’t delay its debt restructuring process. This restructuring is critical to its survival.
AirAsia X applied for a restraining order back in December. The airline has been trying for months to restructure its huge debt pile. Numerous creditors including aircarft lessors have filed action to intervene in the court-supervised restructuring. They say the airline is ‘hopelessly insolvent.’
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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