AirAsia X no longer a “troubled” airline on Bursa Malaysia

AirAsia X no longer is listed as a troubled company on the Malaysian stock exchange. Bursa Malaysia lifted the so-called Practice Note 17 status as of today, which means that the low-cost, long-haul airline again fulfills all the requirements of a company in good financial health.

AirAsia X has been in PN17 for over two years since the start of the pandemic when it came to a standstill as travel restrictions prevented it from doing any meaningful operations. The carrier only restarted operations in Q2 2022. Since then, it has made a strong recovery and reported a profit again for the first time this Q2.

Despite the improved results, Bursa Malaysia continued listing AirAsia X

under PN17. Following an appeal, this has now been uplifted. “AirAsia X was a PN17 company for more than two years, and colossal efforts were made; we completed a debt restructuring exercise amid a global lockdown. Today, we are finally out of the woods against all odds without receiving any financial aid,” said Chairman Tunku Dato Mahmud Fawzy in a media statement on Tuesday, one day before the upliftment of PN17.