AirAsia X, Kuala Lumpur-based medium/long-haul arm of AirAsia, is trying to shed $15B+ in debts by wiping out 99.7% of its outstanding obligations and recently began liquidating AirAsia X Indonesia.
AirAsia X has sent out emails to passengers with outstanding tickets or refunds the airline may not honor, telling that they are essentially just creditors in the restructuring (not good).
You can access AirAsia here.
Here’s a copy of the email that the airline has sent out:
Conclusion
It is a dire situation with AirAsia and AirAsia X that weren’t exactly profitable during the best of times and appeared to have been able to stay afloat with the help of deb only.
If AirAsia X ends up liquidating, customers will likely not see a penny unless they can initiate a successful chargeback with their bank.
We should know in due course what happens with AsiAsia’s long-haul operations that the airline plans to restart in 2021. The longer an airline stays grounded, the less likely it is ever to fly again.
