AirAsia in talks to secure funding of over RM1b

[KUALA LUMPUR] Malaysian budget carrier AirAsia Group on Thursday said it was in talks to secure financing of over RM1 billion (S$326.2 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 RM1 billion, it said.

AirAsia has received deferrals from lessors and is working on further extensions, the statement added.

REUTERS