AirAsia X to raise up to RM50 million

AirAsia X is out with a proposal to raise up to RM50 million (approx. US$10.9 million)  in new capital via the placement of shares with two institutional investors. The airline said that the timing of the placement was strategic given that between 2020-2022 it has implemented a number of measures to address the company’s financial concerns in the wake of the pandemic including its debt restructuring scheme and an array of corporate restructuring and cost containment exercises, and has also now registered two consecutive quarters of profit for the financial periods ended 30 September 2022 and 31 December 2022. “On