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    2588   SG9999015267

BOC AVIATION LIMITED

(2588)
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End-of-day quote. End-of-day quote Hong Kong Stock Exchange - 12/01
54.35 HKD   -1.27%
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Malaysian court grants AirAsia X restraining order against potential legal action

03/17/2021 | 07:23am EST
FILE PHOTO: File photo of an AirAsia X Airbus passenger jet arriving at Orly airport near Paris

KUALA LUMPUR (Reuters) - The Malaysian High Court on Wednesday granted budget airline AirAsia X Bhd a three-month restraining order against any legal proceedings that may be filed against it, which could have slowed down its debt restructuring process.

"The restraining order allows the creditors an opportunity for amicable deliberation on the proposed debt restructuring without extraneous considerations," a filing on the bourse said.

AirAsia X, the long-haul affiliate of AirAsia Group Bhd, applied for a restraining order in December, which will serve to restrain any legal proceedings to be initiated against it.

The airline has been trying for months to restructure 64.15 billion ringgit ($15.57 billion) of debt into 200 million ringgit of debt.

More than a dozen creditors have filed to intervene in its proposed court-supervised restructuring, with lessor BOC Aviation Ltd and airport operator Malaysia Airports Holdings Bhd arguing that AAX is "hopelessly insolvent".

The court last month ordered the airline to convene separate meetings with its different groups of creditors within six months.

($1 = 4.1190 ringgit)

(Reporting by Liz Lee; Editing by Jan Harvey)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AIRASIA GROUP BERHAD -3.95% 0.85 End-of-day quote.-3.95%
AIRASIA X BERHAD -7.69% 0.06 End-of-day quote.-20.00%
BOC AVIATION LIMITED -1.27% 54.35 End-of-day quote.-18.88%
MALAYSIA AIRPORTS HOLDINGS BERHAD 0.70% 5.77 End-of-day quote.-2.53%
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Financials (USD)
Sales 2021 2 253 M - -
Net income 2021 587 M - -
Net Debt 2021 18 105 M - -
P/E ratio 2021 64,2x
Yield 2021 0,55%
Capitalization 37 719 M 4 841 M -
EV / Sales 2021 24,8x
EV / Sales 2022 22,7x
Nbr of Employees 185
Free-Float 100,0%
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Mean consensus BUY
Number of Analysts 9
Last Close Price 54,35 $
Average target price 9,77 $
Spread / Average Target -82,0%
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Managers and Directors
Robert James Martin Chief Executive Officer, Executive Director & MD
Steven Matthew Townend Chief Financial Officer & Deputy Managing Director
Huai Yu Chen Non-Executive Chairman
David Ryan Walton Chief Operating Officer & Deputy Managing Director
Shu La Fu Independent Non-Executive Director