KUALA LUMPUR: AirAsia X Bhd
and parent company Capital A Bhd were among the two most active counters on Bursa Malaysia following the latter's upliftment from Practice Note 17 (PN17) status by Bursa Securities.
At the open, AirAsia X jumped 23 sen or 11% to RM2.33 a share on news the long-haul low-cost airline was no longer considered financially distressed, and no longer faced the threat of being delisted.
Capital A was also buoyed by the news, climbing 3.5 sen or 4.2% to 87 sen a share at the start of trading.
In a media notification sent out late Tuesday evening, Bursa Securities said the low-budget carrier's PN17 status would be lifted effective 9am on Wednesday (Nov 22).
Bursa Securities had classified the firm as PN17, or a financially distressed company, last year.
AirAsia X appealed that classification in July, saying it had undertaken a broad range of measures to improve its financial position, including debt restructuring, share consolidation, and a revision of its business plan.
