AirAsia X runs out of money, says deputy chair

AirAsia X Bhd has run out of money and needs to raise up to 500 million ringgit ($120.60 million) to restart the airline, according to the words of deputy chairman Lim Kian Onn who commented in a Malaysian newspaper over the weekend. Earlier in October, AirAsia X announced its intention to restructure the company to reduce its debt burden of 63.5 billion ringgit ($15.32 billion). “We have run out of money,” Lim told The Star newspaper. “Obviously, banks will not finance the company without shareholders, both old and new, putting in fresh equity. So, a prerequisite is fresh equity.” “If