MAHB says AirAsia has filed appeal against court's ruling in PSC dispute

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KUALA LUMPUR (July 23): Malaysia Airports Holdings Bhd (MAHB) says it has received a notice of appeal filed by AirAsia Bhd and AirAsia X Bhd (collectively AirAsia), against the Kuala Lumpur High Court's ruling that favoured its subsidiary in three civil suits filed to recover outstanding passenger service charges owed by AirAsia.

In a stock exchange filing on Monday (July 22), MAHB said notwithstanding the appeal, AirAsia remains liable to make payment of the full summary judgment that was granted by the court to its wholly-owned Malaysia Airports (Sepang) Sdn Bhd (MA Sepang).

AirAsia will also be appealing the High Court's dismissal of its applications to strike out or stay the three civil suits filed by MA Sepang, MAHB said.

On Thursday (July 18), the court dismissed AirAsia's bid to throw out MA Sepang's suits and allowed summary judgment to be entered in the three civil suits that MA Sepang brought against AirAsia.

The summary judgment order was for a combined amount of RM40.73 million in unpaid PSC and a combined amount of RM792,381.74 in unpaid late payment charges. The summary judgment also included a declaration that AirAsia has to pay MA Sepang, the PSC rates that have been gazetted by law.

MAHB shares closed four sen or 0.47% lower at RM8.56 on Monday, giving it a market capitalisation of RM14.20 billion. 

AirAsia Bhd is wholly-owned by AirAsia Group Bhd. The group's shares rose two sen or 0.7% to settle at RM2.89, valuing it a market capitalisation of RM9.66 billion, while its associate AirAsia X's shares slipped one sen or 4.26% to close at 22.5 sen, for a market capitalisation of RM933.33 million.