ILLUSTRATION. AirAsia X aircraft
Reporter: Kenia Intan | Editor: Yudho Winarto |
KONTAN.CO.ID – JAKARTA. Low-cost airline AirAsia Berhad (Bhd) plans to close its operations in Indonesia. This step was taken to survive the Covid-19 pandemic.
Quoting Bloomberg, Deputy Chairman of Air Asia X Lim Kian Onn in an interview with The Star daily explained that the operational closure was part of a debt restructuring of 63.5 billion ringgit (US $ 15.3 billion).
He explained that the plan requires the approval of investors and creditors. If the rescue plan is approved, the company will need to renegotiate each contract and will do its best to safeguard the interests of all stakeholders.
Also Read: Air Asia X no longer operates in Indonesia, what’s wrong?
Responding to this, the management of AirAsia X Indonesia explained that the operation of AirAsia X Indonesia flights with flight code XT had indeed stopped since January 2019. Even so, until now there is no liquidation process in progress.
The management further explained that AirAsia Indonesia with flight code QZ will continue to operate on domestic and international routes as usual.
For your information, until the close of trading today Tuesday (20/10), the share price of PT AirAsia Indonesia Tbk (CMPP) has not moved from IDR 184.
Citing data from the Indonesia Stock Exchange (IDX), CMPP shares have been suspended since August 5, 2019. Just so you know, CMPP shares are also marked with a special notation “E” which means that the last financial report shows negative equity.
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