AirAsia X Financial Distress and Debt Restructuring Negotiations
Case Study Analysis
On July 17, 2014, Malaysian low-cost airline AirAsia X Bhd and its controlling shareholder, CIMB Capital Bhd, reached an agreement that will see a $1 billion bailout package from the two banks in its quest to restructure the carrier. The plan called for AXN to raise $450 million in fresh capital and $400 million in debt to avoid a collapse in the third quarter and put itself on a path to profitability by the fourth quarter. click this site AirAsia
Marketing Plan
AirAsia X, formerly known as AirAsia Berhad, is one of the largest airlines in Southeast Asia. It offers budget airline services in Southeast Asia. The company started its operations in 2008 in Malaysia and started operating domestically in 2009. In 2012, it opened its first international flight to China. In the year 2012, AirAsia X received $373 million in loans, from LG CNS Group (Korea), CIT
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On the 26th of June, 2015, we learned that AirAsia X will enter into a debt restructuring process to save the business, according to reports. This was the worst blow for Malaysia Airlines, but also a good opportunity for the airline and its stakeholders, particularly its investors. This process involves the bankruptcy of the airline’s debtors and the conversion of this debt into equity. At the same time, the airline will be reorganized into two separate companies,
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AirAsia X Financial Distress and Debt Restructuring Negotiations I did not attend a large corporation’s annual shareholders’ meeting. Visit Your URL However, I was informed about some of its internal struggles in terms of a growing debt load. The airline group had experienced substantial losses for many years due to high fuel prices and the impact of the pandemic. The group had incurred an aggregate debt of over $4 billion (USD) by the end of 2020. However, its management did not prioritize
VRIO Analysis
AirAsia X was once a prominent name in the aviation industry. However, due to numerous reasons, such as a global recession, the slow-paced growth in Asia-Pacific, and the unrealistic demand for air travel, the company’s financial performance has taken a beating. The company went public in 2011 and began listing on the KLSE. In 2016, the company was delisted, and its shares became unlisted. The company has gone into a financial crisis
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On September 8, 2020, AirAsia X announced in a statement that it would be facing its fifth financial crisis since its incorporation in 2004, and that the situation may worsen in the future, due to the impact of the COVID-19 pandemic on the aviation industry and the group’s inability to secure financing from international lenders. According to Chief Executive Officer Datuk Tan Sri Tony Fernandes, the group has seen a 50% drop in its passenger traffic in June 2
Porters Five Forces Analysis
The airline industry has always been affected by various external and internal threats. AirAsia X has been experiencing an internal crisis since its listing at the end of 2012. It has faced a long period of cash flow deficit and net losses with high cost of debt. The debt-to-capital ratio has remained high and the fleet expansion has not yielded the desired results. In March 2018, the airline went into administration with a rescue package from the government. The rescue package comprises