After auditor flags doubts, AirAsia says confident business will continue after mitigation | Malay Mail

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KUALA LUMPUR, July 9 ― Low-cost carrier AirAsia Group Berhad (AAGB) said today it is confident it can continue being in business despite significant uncertainties with respect to the company’s ability to continue following the Covid-19 pandemic. Saying the first half of 2020 was extremely...

Thursday, 09 Jul 2020 11:08 AM MYTAirAsia chief executive Tan Sri Tony Fernandes said its management has worked ensure the sustainability of its business operations and determined to move forward in the new normal with renewed confidence of its stakeholders. — Picture by Yusof Mat Isa

“We are positive that the proactive mitigating actions we have implemented as well as our consistency in transforming the Company would aid us in recovering and overcoming this operating environment. He also lauded the formation and discussion of “travel bubbles” and “green lanes” with key economic partners with a low infection rate and proven pandemic curbing systems, calling it a step in the right direction.

“Positive trends in our flight bookings and load factors are additional signals of a better second half of the year. In June, our group-wide load factor was 60 per cent with AirAsia Malaysia’s load factor reaching 65 per cent,” he said, adding that the low-cost carrier is expecting to achieve a higher load factor of 70 per cent in July.

“Of this debt funding, a certain portion would be eligible for the government guarantee loan under the Danajamin Prihatin Guarantee Scheme in Malaysia. Other than Malaysia, our Philippines and Indonesia entities are currently in various stages of bank loan applications,” he said.

 

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