AirAsia X receives over 90% support from creditors for debt restructure

AirAsia X’s debt-restructuring proposal received more than 90% support from creditors in an electronic vote ahead of meetings Friday, according to a person familiar with the matter, as the debt-laden budget carrier tries to stay afloat. The three different classes of creditors, which include Airbus, BOC Aviation and Rolls-Royce Holdings, have voted in favor of the Malaysian long-haul airline’s proposed debt restructuring, said the person, who asked not to be identified because the information isn’t public. AirAsia X needs at least 75% support from each class of creditors to proceed with its plan. As part of the deal, Airbus has also agreed to significantly reduce AirAsia X’s existing aircraft orders, the person said, without providing details. The airline is the world’s biggest customer for the wide-body A330neo, with 78 aircraft on order, according to the French planemaker’s website. It also has an order for 30 narrow-body A321neos.<br/>