AirAsiaX Restructure - Credits Wiped

5 replies

RedBaron

Member since 23 Mar 2016

Total posts 3

No doubt a few Australian travelers are affected by Air AsiaX's restructure. Notification below requests people that had credits with the airline which they begged people to take last year to submit a proof of debt. Credits in passenger accounts have been wiped making it difficult to locate said proof of debt.

“Thank you for your patience as we continue to progress with the regulatory process to restructure our business affairs after submitting an application for a debt restructuring plan to the High Court of Kuala Lumpur, Malaysia. We are pleased to formally inform you that the restructuring process is progressing as planned, and we are now inviting all scheme creditors, including passengers, to participate in the proof of debt (“POD”) exercise.

For the purpose of the POD, you are required to prove your debts. To facilitate this process, we are sharing with you a document that contains a letter and the POD form that explains the requirements of the POD exercise. Each passenger is also assigned a unique E-filing ID which will help us to organize the submissions.

Please complete the POD form and provide all supporting documents, and return the complete pack of documents via hard copy and email by 7 April. You may find more information and details of the POD here”

Since AirAsiaX appears to have been largely built on debt it would appear that if it is to fly again it will have been restructured as a new entity and will do so unencumbered by any debts to travelers.

XWu

Member since 09 May 2020

Total posts 98

And this AirAsia X news doesn’t get on the ET radar yet to report on it.

Not worthy of business travellers?

The restructuring talk itself has been so since Oct 2020, although this POD fiasco/burden on travellers only happened last week

DanV

Qantas - Qantas Frequent Flyer

Member since 04 Nov 2017

Total posts 79

Would not surprise me if the AirAsia group announces a close down AirAsiaX to concentrate on Domestic and Short/Medium Haul International, like many other groups such as Norwegian and Virgin Australia.

Closing down AirAsiaX means A330s returned to lessors, writing off the A330neo order (as a loss) and the A321neo/LR order being transferred to the original AirAsia division.

theflyinggeo

Qantas - Qantas Frequent Flyer

Member since 19 Mar 2019

Total posts 18

@XWu fair enough there's no coverage on ET, most business travellers wouldn't take Air Asia X.

Dan22

Qantas - Qantas Frequent Flyer

Member since 07 Aug 2013

Total posts 119

Did you book on credit card? You should open a dispute then with bank - let them try recover the costs...you didnt lose it to covid, you lose your credits to company collapse/ restructure so should be entitled.

Joe

Member since 03 May 2013

Total posts 120

Seriously, who here would be crazy enough to fly these unsafe cowboys?

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