The budget carrier is working with an adviser on the planned capital raising, says source. FMTNews AirAsia
AirAsia is also weighing raising additional funds via the sale of stakes in its digital and cargo units in order to further strengthen its financial position.
The budget carrier is working with an adviser on the planned capital raising, said the person, who asked not to be named as the information is private. Deliberations on the planned rights issue and stake sales are still ongoing and AirAsia may decide not to proceed, said the people.AirAsia, like other airlines globally, has been adversely impacted by the pandemic coronavirus which crimped demand for air travel following border controls and health concerns.
The company’s auditor Ernst & Young warned in a statement to the Kuala Lumpur stock exchange Tuesday that the airline’s ability to continue as a going concern may be in “significant doubt”.
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