BOC Aviation has taken action to enforce a UK court judgement for AirAsia X to pay it $23.4 million in relation to aircraft leases.
The lessor filed in the High Court of Malaya to register the foreign judgement on AirAsia X, dated 7 December, according to an 8 December filing by AirAsia X to Bursa Malaysia.
This pertains to summary judgement that the High Court of Justice in the Business and Property Courts of England and Wales granted to BOC Aviation against AirAsia X and AAX Leasing Two, dated 6 November, as AirAsia X detailed in a 20 November disclosure.
The sum encompasses a $23 million component that includes interest till 30 June, and about $401,000 in relation to interest between 1 July and 6 November.
AirAsia X states in the latest filing: “The financial impact to the group will be a cash outflow equal to the amount of the said notice, if successful. There is no operational impact to the group.”
The airline group says its board is currently reviewing the documentation received and will be seeking legal advice.
It adds: “For information, [AirAsia X] did not enter appearance in [BOC Aviation’s claim in the High Court of England and Wales] in view of the proposed debt restructuring exercise of [AirAsia X].”