Thai AirAsia X seeks investors, to restructure in 2022

Thai AirAsia X (XJ, Bangkok Don Mueang) plans to begin a formal restructuring in 2022 and seek new investors to fund its relaunch, the executive chairman of majority shareholder Asia Aviation, Tassapon Bijleveld, told the Bangkok Post.

Tassapon did not disclose how much funding the airline would seek or what type of recapitalization.

Asia Aviation, which owns a 51% stake in Thai AirAsia X, recently obtained shareholder approval to raise 14 billion baht ($ 415 million) through a combination of shares to be issued to new and existing investors as well. than convertible bonds.

The low-cost long-haul subsidiary of Thai AirAsia (FD, Bangkok Don Mueang) no longer operates scheduled passenger flights since the end of March 2020. Its fleet includes eight A330-300s, which are currently used for freight-only services. , and two idle A330-900s, the advanced ch-aviation fleets module shows. The airline has scheduled a restart of its passenger operations for February 2, 2022, with services from Bangkok Don Mueang to each of Tokyo Narita and Seoul Incheon, but the plan may still change depending on COVID regulations.

The remaining 49% of Thai AirAsia X is held by AirAsia X (D7, Kuala Lumpur Int’l), a company listed on Bursa Malaysia, also under restructuring.