Stay on AirAsia X’s creditors extended by nine months

AirAsia X has been granted by the High Court of Malaya a nine-month extension of a restraining order on creditors. The order was initially granted for three months from 17 March. It is now valid for another nine months from 17 June, the company said in a same-day disclosure to Bursa Malaysia.In a 17 March disclosure, AirAsia X said it proactively applied for the restraining order to help address its debt obligations in an orderly manner via its proposal for debt restructuring. It added that the restraining order allows creditors “an opportunity for amicable deliberation on the proposed debt restructuring without extraneous considerations so that a decision can be reached on the same”. The order was not expected to have any material financial and operational impact on the company.<br/>