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Aircraft lessor BOC Aviation seek U.K court to implement the judgment where AirAsia X lost a multi-million dollar lawsuit.
BOC Aviation, a Hong Kong-listed global aircraft leasing company filed a US$22.98 million (RM95.33 million) lawsuit against AirAsia X for alleged breach of leasing contract.
AAX Leasing Two, the subsidiary of AirAsia Group first leased four Airbus A330-300s in 2014 for AirAsia X, and the lease agreement was revised in December 2018.
BOCA is claiming RM95.33 million from AAX leasing Two Ltd, for breach of AAX’s obligations under four (4) guarantees, all dated 28 December 2018 issued by AAX in favour of BOCA pursuant to the Lease Agreements (“Guarantees”).
AirAsia has been financially struggling for a some time, even before the COVID issue started.
It has closed down its several overseas arms, and focusing on its core unit in Malaysia. AirAsia is converting several aircraft into cargo planes to supplement the passenger business.