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AirAsia X says shares to be halted on Friday ahead of "material announcement"
[KUALA LUMPUR] Trading in shares of Malaysian long-haul budget carrier AirAsia X will be suspended on Friday pending a "material announcement", the company said in an announcement to the stock exchange.
Shares of AirAsia X will be suspended from 0900 am local time (0100GMT), said the company.
The company is set to announce a rights issue of shares as early as Friday to try and close a growing cash-flow gap, and could announce the departure of two key executives, Reuters reported on Wednesday.