News
AirAsia X appeals stock exchange’s PN17 decision
November 6th 2023
AirAsia X (AAX) has lodged an appeal against Bursa Malaysia stock exchange’s rejection of its application to exit Practical Note (PN17) status. Read More » “We are confident about the resubmission of the upliftment application, which is a pivotal step that will not only secure our future but open new horizons,” AAX CEO, Benyamin Ismail, said. “Alongside significant improvements across all key metrics, as outlined in our recent financial and operational performance announcements, we are working closely with Bursa Malaysia to close this pandemic induced chapter as soon as possible. With the uplifting of the PN17 status we will continue to chart our positive growth trajectory, including securing additional financial support to spread our wings further than ever before and continue to do our part for the travel industry within this region.” Previously, the Bursa Malaysia had issued AAX with a PN17 notice prompted by the LCC’s financial fragility three years ago. To continue to trade on the local stock exchange, the notice requires a company to submit and receive approval of a financial regularisation plan within a specified period. The stock exchange has granted AAX two extensions of time to submit its regularisation plan.
