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AirAsia X ‘out of money’

AirAsia X ‘out of money’

Indonesian unit to be liquidated but fresh shareholder equity essential for survival

The tail of an AirAsia X plane is seen at the Garuda AeroAsia maintenance facility in Tangerang, Indonesia. (Reuters Photo)

KUALA LUMPUR: The long-haul budget carrier AirAsia X Bhd has run out of money and needs to raise up to 500 million ringgit (US$120 million) to restart the airline, according to deputy chairman Lim Kian Onn.

The Malaysia-based affiliate of AirAsia Group said this month it wanted to restructure 63.5 billion ringgit ($15.3 billion) worth of…

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