AirAsia Group Bhd posted its biggest quarterly loss on record as restrictions imposed by governments to contain the spread of the coronavirus decimated travel.
Southeast Asia’s second-biggest budget carrier by market value reported a net loss of 992.9 million ringgit ($238 million) in the three months ended June 30 versus net income of 17.3 million ringgit a year ago, according to an exchange filing Tuesday. Sales plunged 96% to just 119 million ringgit.
Chief Executive Officer Tony Fernandes has been in talks for joint ventures and collaborations that may result in additional investment for the beleaguered airline. Bank loans and other capital-raising proposals are also being weighed.
