Wednesday, 08 Jul 2020 07:01 PM MYT
Auditors EY issued an audit opinion stating the airline’s 2019 earnings were prepared on a going concern basis, which is dependent upon a recovery from the Covid-19 pandemic and the success of fundraising efforts. Like other airlines, AirAsia has been hit hard as the coronavirus hammers travel demand. It posted a first-quarter loss of RM803 million, its biggest loss for the quarter since its 2004 listing.AirAsia management has given guidance that an equity raising via a placement or rights issue looks imminent, Affin Hwang Capital analyst Isaac Chow wrote in a report yesterday.The airline’s liabilities exceeded its assets by RM1.
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