AirAsia X Bhd (AAX) is proposing to pay just 0.5% of debt owed to each of its creditors and to terminate all existing contracts so that it can restructure 33.65 billion ringgit ($8.1 billion) of liabilities, a document seen by Reuters shows.
AAX also proposed that if it were to garner more than 300 million ringgit in annual earnings before interest, tax, depreciation and amortisation, lease rentals and restructuring costs during its 2023-2026 financial years, all creditors except Airbus would be entitled to 20% of those earnings.
The 0.5% of debt owed to each creditor will be paid from operating cash flow one year after the debt restructuring goes into effect, the airline said in the document. It is giving lessors the option of continuing to lease planes to AAX on new terms or to accept the termination of the lease and have the relevant planes returned. Two lessors have already indicated they want to terminate the leases, AAX said in the document.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Here are the law firms crafting Okada Manila’s $2.5 bln SPAC mergerThree law firms — Baker McKenzie, Milbank and Schulte Roth & Zabel — are driving Philippines-based casino Okada Manila’s plans to go public in the U.S. through a $2.5 bln merger with blank check company backed by a former Las Vegas Sands Corp. director.
Lire la suite »
'Good for the economy': Progressives escalate pressure on Biden to cancel student debtWith nearly 45 million individuals receiving a bill each month, Americans now owe about $1.7 trillion in student loans.
Lire la suite »
Glencore opens talks with Chad over debt restructuringGlencore and a consortium of banks have started talks with Chad over the restructuring of the country's more than $1 billion commercial debt, according to a letter from the company to the International Monetary Fund (IMF) seen on Saturday.
Lire la suite »
Germany’s workers are in the strongest position in 30 yearsGermany’s 16 states are in talks with unions about higher pay for more than 2.3m public-sector workers
Lire la suite »
‘Shameless’ Actor Ricarlo Flanagan Dead at 40 After COVID-19 DiagnosisUs Weekly pays tribute to the celebrities who passed away in 2021 — photos
Lire la suite »
How I Finished All My Holiday Shopping Before DecemberHow to use the Klarna app for browsing, finding the best discounts, and paying in four.
Lire la suite »