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Kuala Lumpur, Kuala Lumpur, Malaysia

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Material Litigation

BackSep 20, 2019
Type Announcement
Subject MATERIAL LITIGATION
Description

UPDATES ON (1) KUALA LUMPUR HIGH COURT CIVIL SUIT BETWEEN MALAYSIA AIRPORTS (SEPANG) SDN BHD AND AIRASIA BERHAD (2) KUALA LUMPUR HIGH COURT CIVIL SUIT BETWEEN MALAYSIA AIRPORTS (SEPANG) SDN BHD AND AIRASIA X BERHAD

We refer to our Announcements dated 18 July 2019 and 11 September 2019.

The Board of Directors of Malaysia Airports Holdings Berhad (“the Company”) wishes to announce that Malaysia Airports (Sepang) Sdn Bhd (“MA Sepang”), a wholly owned subsidiary of the Company, has received payment of a combined sum of RM41,544,709.24 from AirAsia Berhad (“AAB”) and AirAsia X Berhad (“AAX”) (collectively, “AirAsia”).

These payments were made following the garnishee execution proceedings filed by MA Sepang against three of AirAsia’s banks, which were initiated to enforce the three Kuala Lumpur High Court judgments dated 18 July 2019 that were awarded in favour of MA Sepang in its three civil suits against AirAsia.

On 17 September 2019, AAX paid a sum of RM27,387,890.77 which comprises unpaid passenger service charges, unpaid late payment charges and legal costs.

On 18 September 2019, AAB paid a sum of RM14,156,818.47 which comprises unpaid passenger service charges, unpaid late payment charges and legal costs.

These payments were made without prejudice to AirAsia’s rights in its appeals and the connected interlocutory applications.

Further updates in respect of any material development on this matter will be made from time to time.

 

This Announcement is dated 20 September 2019.




Announcement Info

Company Name MALAYSIA AIRPORTS HOLDINGS BERHAD
Stock Name AIRPORT
Date Announced 20 Sep 2019
Category General Announcement for PLC
Reference Number GA1-20092019-00073