KUALA LUMPUR: Lessor BOC Aviation Limited (BOCA) has asked a Malaysian court to dismiss AirAsia X Bhd’s debt restructuring scheme as it rules out a debt-to-equity swap and gives too much power to Airbus as a creditor, an affidavit filed by a top BOCA executive shows.
AirAsia X (AAX), the long-haul unit of budget airline AirAsia Group, has proposed to reconstitute $15.3 billion of debt into a principal amount of 200 million ringgit (about 1.4 billion baht) and have the rest waived.
The airline, which has posted losses since June 2019, said the alternative was to face liquidation with no returns to creditors. It is now seeking court approval to convene a meeting with…
