Come November 8 this year, Tony Fernandes will eclipse Harry Houndini, the magician as the greatest escape artist of all time.
Do creditors actually have a choice to reject READ : AirAsia X proposes paying 0.5% of US$8.1b debt
I wanna be like Harry Houdini
And be the one to make the great escape
I wanna be where no one'll see me
You've gotta learn a lesson give and take
And be the one to make the great escape
I wanna be where no one'll see me
You've gotta learn a lesson give and take
Under the same proposal, the creditors can also recoup up to 20 per cent of the debt in the future if AirAsia X is profitable.
The company as you can see has a history of making huge losses and very small profits, which means if creditors don't accept the 0.5 per cent ,they can expect ZERO.