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Coronavirus fallout: AirAsia in talks to secure over $230 million funding

AirAsia has received deferrals from lessors and is working on further extensions

twitter-logoReuters | July 9, 2020 | Updated 10:17 IST
Coronavirus fallout: AirAsia in talks to secure over $230 million funding

Malaysian budget carrier AirAsia Group Bhd on Thursday said it was in talks to secure financing of over 1 billion ringgit ($234.52 million), a day after its auditor cast doubt on its ability to continue as a going concern due to the coronavirus-led travel slump.

"We have been presented with proposals in various forms of capital raising, be it debt or equity, and are in ongoing discussions with numerous parties, including investment banks, lenders, as well as interested investors in seeking a favourable outcome for the group," the airline said in a statement.

Some financial institutions have indicated that they would support its funding request of more than 1 billion ringgit, it said. AirAsia has received deferrals from lessors and is working on further extensions, the statement added.

Also read: AirAsia trading halted after auditor EY notes 'going concern' doubts

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