By Liz Lee and Jamie FreedKUALA LUMPUR (Reuters) – 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.The Malaysian low-cost long-haul airline, a sister carrier to AirAsia Group Bhd, on Monday told the stock exchange it had set a date of Nov. 12 for creditor meetings to vote on the restructuring proposal.'To avoid a liquidation and to allow the airline to fly again, the only option is for AAX to undertake the proposed debt restructuring,' the airline said in a 127-page explanatory statement for the meeting seen by Reuters that is being sent to creditors.

https://whtc.com/2021/10/17/malaysias-airasia-x-proposes-paying-0-5-of-8-1-billion-debt-owed-to-creditors-document/

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