AirAsia X categorised as ‘financially distressed’ company
Struggling AirAsia X is now officially classed as a financially distressed firm.
It now faces the possibility of being delisted from the Bursa Malaysia stock exchange.
Auditor Ernst & Young issued an advisory citing ‘significant doubt’ about its future as a going concern.
"The company is taking the necessary steps to address its Practice Note 17 (financially distressed) status," AirAsia X said.
AirAsia X has a year to rejuvenate its finances, or it will be delisted from Bursa Malaysia.
Its restructuring plan hinges on a recent offer to pay creditors just 0.5 per cent of the estimated USD8 billion total debt owed to creditors.
It also proposed terminating all existing contracts.
It has already triggered defaults for various contracts
TravelMole Editorial Team
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.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Airbnb eyes a loyalty program but details remain under wraps
Airlines suspend Madagascar services following unrest and army revolt
Qatar Airways offers flexible payment options for European travellers
Air Mauritius reduces frequencies to Europe and Asia for the holiday season
Major rail disruptions around and in Berlin until early 2026