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Airbus says it stands to lose more than $5 billion if AirAsia implements its debt restructuring plans of AirAsia X.
The documents filed in the high court of Malaysia shows that 13 creditors have challenged the Malaysian low-budget carrier, AirAsia’s debt restricting plan.
According to Airbus, it will lose $5 billion if AirAsia goes under or walk away from its commitments.
“AAX has ordered and Airbus has already built, or substantially built, seven A330neo aircraft which are currently in the inventory,”.. and “there are another unfilled orders for 78 A330neo jets as well as 10 A350-900 and 30 A321neo, that may impact Airbus’s profitability if cancelled”. according to the court filing.
AirAsia X has also failed to pay $301.2 million in pre-delivery payments for its A330neo orders plus $2.5 million on A321XLR narrow-body jets.
AAX revealed in a Dec. 17 affidavit seen by Reuters “it owes Airbus 48.71 billion ringgit ($12 billion) including predelivery payments for committed purchase of 118 aircraft”
AAX, the long-haul unit of budget airline AirAsia Group, has total debts and liabilities of about 64.15 billion ringgit ($15.8 billion),