AirAsia X to liquidate Indonesian ops amid woes — newspaper

(Oct 17): AirAsia X Bhd is liquidating its Indonesian arm in a bid to survive the Covid-19 pandemic that has left the low-cost airline’s planes grounded since late March.

The long-haul arm of AirAsia Group Bhd has also written down its 49% stake in Thai AirAsia X, the airline’s deputy chairman Datuk Lim Kian Onn said in an interview with The Star newspaper.

These efforts come amid AirAsia X’s proposed restructuring plan to wipe out almost RM63.5 billion in debt and save it from a collapse. The proposal requires approval from investors and creditors.

Initial negotiations with creditors were tough as they were understandably upset, Lim said in the interview. They had asked for better terms, including free equity for forgiven debt — something that would be impossible for the airline to fulfil, he added.

Still, Lim said all of them genuinely want to find a common ground to take the airline forward. “No one has anything to gain from our demise,” he told the newspaper.

The airline is planning to resume flights in the first quarter (1Q), though the process remains “dynamic”, said Lim. Should the rescue plan be approved, the company will have to renegotiate every single contract and do its best to look after all stakeholders’ interests, he said.

rubberex still on rocket fuel post split lol

Many was wrong for saying sure drop like kossan and tg.

Seems like gonna be another glove week.

No political issues i forseen till cmco lifted or ended. As agong had mentioned few time, it wont be meeting anyone during this cmco period. So as long as cmco is enforcing, the politic remain the same.

Harta, Spmx QR now said to be on 27, 28 Oct respectively.
Riverstone shareholders, be informed:

EGM on 2 Nov, virtual.
Not sure if QR released then.
http://riverstone.listedcompany.com/news.html/id/801642

Meanwhile, below from BT:

insider news?

yup yup true...hahaha today big 4 glove counters sleepy...just up few cents...

Why not hold till Kossan QR release with readjusted financials ?

Since you just recently in, might as well try to stay a bit to see if your bets pay off.

I think it's next month. Friend forward me a text below. I might be wrong though but could be close enough hahah 

Update on upcoming results of glove companies:

Hartalega: 27th Oct 2020
Supermax:  Week of 26th to 30th Oct ( delayed one week due to Covid-19 affecting overseas subsidiaries)
Kossan: Second or third week of Nov
Top Glove: Week of 11 to 18 Dec