{"id":361765,"date":"2020-07-08T10:13:31","date_gmt":"2020-07-08T04:43:31","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=361765"},"modified":"2020-07-08T10:13:31","modified_gmt":"2020-07-08T04:43:31","slug":"airasias-future-in-significant-doubt-ernst-young-warns","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/airasias-future-in-significant-doubt-ernst-young-warns\/","title":{"rendered":"AirAsia\u2019s future in \u2018significant doubt,\u2019 Ernst &amp; Young warns"},"content":{"rendered":"<p>AirAsia Group Bhd.\u2019s ability to continue as a going concern may be in \u201csignificant doubt&#8221; because of the impact the coronavirus is having on the indebted carrier, auditor Ernst &amp; Young said.<\/p>\n<p>The airline\u2019s current liabilities already exceeded its current assets by 1.84 billion ringgit ($430 million) at the end of 2019, a year when it posted a 283 million ringgit net loss, Ernst &amp; Young said in a statement to the Kuala Lumpur stock exchange Wednesday. The financial performance and cash flow have now been further hit by virus-related travel restrictions.<\/p>\n<p>The slump in air travel and the carrier\u2019s financial performance \u201cindicate existence of material uncertainties that may cast significant doubt on the Group\u2019s and the Company\u2019s ability to continue as a going concern,&#8221; Ernst &amp; Young said in its unqualified audit opinion statement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>AirAsia Group Bhd.\u2019s ability to continue as a going concern may be in \u201csignificant doubt&#8221; because of the impact the coronavirus is having on the indebted carrier, auditor Ernst &amp; Young said. The airline\u2019s current liabilities already exceeded its current assets by 1.84 billion ringgit ($430 million) at the end of 2019, a year when it posted a 283 million ringgit net loss, Ernst &amp; Young said in a statement to the Kuala Lumpur stock exchange Wednesday. The financial performance and cash flow have now been further hit by virus-related travel restrictions. The slump in air travel and the carrier\u2019s [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[188,139,130],"tags":[],"class_list":["post-361765","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-live-mint","category-live-mint","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/361765","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=361765"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/361765\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=361765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=361765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=361765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}