AirAsia X to liquidate Indonesia arm, write down Thai stake

AirAsia X deputy chairman Lim Kian Onn says the airline will not be able to honour its commitments going forward. – The Malaysian Insight file pic, October 17, 2020.

AS part of its restructuring plan to weather the pandemic-hit tourism industry downturn, AirAsia X Bhd (AAX) will liquidate its Indonesian arm and write down its 49% stake in Thailand AAX. 

The airline’s deputy chairman, Lim Kian Onn told The Star in an interview published today that the cuts are part of its plan to bring down about RM63.5 billion in debt.

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