DUBAI: AirAsia X Bhd is actively seeking new capital opportunities after Bursa Malaysia Securities Bhd lifted the airline’s Practice Note 17 (PN17) status effective Nov 22.
AirAsia X (AAX) chief executive officer Benyamin Ismail said this is top priority as it is essential for the airline to maintain profitability.
“The crucial aspect is to ensure that we actively seek capital now, which involves exploring opportunities with banks,” he told Bernama on the sidelines after the World Travel Awards (WTA) Grand Final 2023 on Friday night.
“Typically, banks are hesitant to engage with PN17 companies, but the new development creates new avenues for us to obtain loans,” he said.
Benyamin said they have restructured the company during the COVID-19 pandemic and this is a positive aspect. Additionally, the company’s financials are strong and the uplifting of the PN17 status is another upside for the company.
“For this year, we’ve exceeded expectations. However, bear in mind that fuel prices are…
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