KUALA LUMPUR - Malaysia's biggest airline AirAsia should be able to weather its current financial difficulties, say analysts.
The company needs to raise close to RM2 billion over the next year to turn its fortunes around, a target Mr Fernandes is confident of reaching. CSG CIMB analyst Raymond Yap was also"reasonably confident" that the carrier would survive the Covid-19 pandemic. An unqualified audit opinion statement by Ernst & Young last week said that the carrier's liabilities exceeded its assets by RM1.84 billion. The audit opinion came days after the airline announced a record quarterly loss of RM803.8 million following the grounding of most of its fleet in March.
"I won't run a company based on an audit report. We have been working on this since March. We are in the process of raising debt and equity. Our cash flow is still very strong," Mr Fernandes said during an interview with business radio station BFM last week.
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