Thai AirAsia X, the international low-cost carrier under the AirAsia umbrella, has had its bankruptcy claim accepted by a Thai court. This makes it the third airline in Thailand, along with Nok Air and Thai Airways, to file for bankruptcy since the start of the Covid-19 pandemic.

TAAX director, Tassapon Bijleveld, says all existing bookings will be honoured, including flights to South Korea and Japan, scheduled to start next month.

Thai Air Asia X is a budget international carrier for flights in and out of Thailand and not directly financially linked to the domestic Thai Air Asia.

“It was hard to raise funds as the airline shouldered a large amount of debt. A rehabilitation plan approved by the court in the next stage will be a viable solution to maintain business in the long run

Source

We have flown Air Asia X to Bali a couple times; the plane was full both ways. They were running two flights a day, if memory serves me correctly. The prices were significantly lower than other airlines were offering. The collapse of the tourist industry there  must have hit the company hard. 

Meanwhile..

https://www.thestar.com.my/business/business-news/2022/05/30/airasia-x-rakes-in-whopping-rm3362bil-net-profit-in-3q

AirAsia X reports whopping RM33.62bil net profit in 3Q

 

On 5/21/2022 at 4:40 PM, spoon said:

Thai Air Asia X is a budget international carrier for flights in and out of Thailand and not directly financially linked to the domestic Thai Air Asia.

I would presume that the main Air Asia company retains the rights to the brand.   So it's likely to continue to be seen in Thailand.