AirAsia X appeals to exit PN17 status

AirAsia X (AAX) has lodged an appeal with Bursa Securities Malaysia Bhd in response to the recent decision concerning its PN17 status. The airline’s immediate objective is to smoothly transition out of PN17 to facilitate post-pandemic growth and profitability.

AAX CEO Benyamin Ismail expressed optimism about the upliftment of PN17 status, highlighting its importance in charting a positive growth trajectory and securing additional financial support for further expansion. AAX aims to obtain the necessary approvals promptly and explore ventures with potential investors to contribute to the travel industry in the region.

AAX emphasized that its current PN17 status has no impact on its services, and the airline maintains a positive outlook.

To recap, Bursa Malaysia Securities Bhd rejected AAX’s application for PN17 upliftment on October 19, 2023, providing an extension until January 17, 2024, to submit a regularisation plan instead. AAX had submitted an application for upliftment on July 20, 2023, citing improved financial performance. – TMR / pic TMR FILE