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AirAsia In Loss Amid A Global Pandemic

AirAsia on Monday posted an 803.3 Million Ringgit (US $188 million) loss for the three months ending March 31. This is the company’s biggest first-quarter loss since its listing in November 2004. 

Shares of AirAsia Group Berhad halted again on Wednesday after their auditor said that there was material unreliability that cast doubt on the budget carrier’s ability to continue as the concern grows. 

The company said last month it will be evaluating proposals for raising capital to strengthen their equity and liquidity. The company is looking towards the end of COVID-19 that might help them recover. 

The company management on Tuesday has said that equity raising through placement or rights issues looks imminent. 

AirAsia said on Monday that there is an on-going consideration for their joint ventures and collaborations with other companies that might result in additional third-party investments in specific segments of the business. How long will it take for the company to recover remains a contingency.