KUALA LUMPUR : Malaysian budget carrier AirAsia Group Bhd on Thursday said it was in talks to raise more than 1 billion ringgit ($234.52 million) in funds, a day after its auditor cast doubt on its ability to continue as a going concern.
AirAsia, like other airlines, has been slammed by the coronavirus pandemic that has hammered demand for air travel. Its auditors have said its 2019 earnings were prepared on a going concern basis, which is dependent upon a recovery from the crisis and the success of fundraising efforts.
AirAsia said it was considering various fundraising options, including debt and equity, and looking to at least halve cash expenses this year.
