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    AIR   NL0000235190

AIRBUS SE

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Court grants Malaysia's AirAsia X extension to hold creditors meeting by March

09/15/2021 | 06:46am EDT
FILE PHOTO: AirAsia planes are seen on the tarmac of Kuala Lumpur International Airport 2 (KLIA2) in Sepang

KUALA LUMPUR (Reuters) - Malaysia's long-haul budget carrier AirAsia X Bhd (AAX) has obtained court permission to extend the deadline to convene its creditor meetings to March next year, it said on Wednesday.

AirAsia X said the High Court granted an order for an extension until March 17 for it to convene separate meetings of the creditors "for the purpose of considering and, if thought fit, approving with or without modification" a restructuring scheme to be proposed.

In February, it was granted court approval to convene the separate meetings https://www.reuters.com/article/airasia-x-restructuring-idUSL1N2KS094 with different groups of creditors to vote on its proposal within 180 days.

The court had separated the airline's 14 creditors into three classifications -- the first for airport operator Malaysia Airports Holdings Bhd, the second for other creditors, and the third for planemaker Airbus SE.

AAX, an affiliate of AirAsia Group, proposed last October to restructure 64.15 billion ringgit of debt and has faced objections to its scheme from some creditors.

The airline said the alternative was liquidation with no returns to creditors. AAX will need approval from creditors at the meetings holding at least 75% of the money owed.

(Reporting by Liz Lee, Editing by Louise Heavens)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AIRASIA GROUP BERHAD 0.88% 1.15 End-of-day quote.29.94%
AIRASIA X BERHAD 0.00% 0.095 End-of-day quote.26.67%
AIRBUS SE 1.82% 112 Real-time Quote.22.52%
MALAYSIA AIRPORTS HOLDINGS BERHAD -1.39% 6.39 End-of-day quote.7.94%
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Sales 2021 52 755 M 61 629 M 61 629 M
Net income 2021 3 140 M 3 668 M 3 668 M
Net cash 2021 2 297 M 2 684 M 2 684 M
P/E ratio 2021 28,4x
Yield 2021 1,30%
Capitalization 88 008 M 103 B 103 B
EV / Sales 2021 1,62x
EV / Sales 2022 1,34x
Nbr of Employees 126 050
Free-Float 74,1%
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Number of Analysts 21
Last Close Price 110,00 €
Average target price 139,61 €
Spread / Average Target 26,9%
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Guillaume Faury Chief Executive Officer
Dominik Asam Chief Financial Officer
RenÚ Richard Obermann Chairman
Sabine Klauke Chief Technical Officer
Alberto Jose Gutierrez Moreno Chief Operating Officer
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