The long-haul, low-cost airline said 100% of the Class A and C creditors, and 97.6% of Class B creditors approved the proposed debt restructuring at the CCMs. said its proposed debt restructuring has accordingly been approved by the scheme creditors, as the requisite majority of 75% of each Class A, B and C creditors was obtained at their respective court convened meetings .
In late October, Reuters reported that AAX is proposing to pay just 0.5% of debt owed to each of its creditors and to terminate all existing contracts so that it can restructure RM33.65bil of liabilities.
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