After Huge Loss, AirAsia Auditor Flags Concerns

The New Indian Express Chennai|July 09, 2020

After Huge Loss, AirAsia Auditor Flags Concerns
Audit firm Ernst & Young has cast significant doubt on the ability of budget carrier Air Asia to continue as a going concern after the Malaysia-based airline posted a record loss of $188 million during the January-March quarter.

PROSPECTS IN INDIA VERY BLEAK

India’s aviation prospects, like the rest of the world, also look bleak at the movement

Experts say that no direct relief from the government has already sent domestic airlines on survival mode and a delayed recovery can lead to the bankruptcy of two-three carriers.

Air Asia has a market share of 6-7 per cent in the domestic market.

Following the observations attached along with the airline’s financial results, shares of the company crashed and trading in them on the Bura Malaysia stock exchange was temporarily halted.

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July 09, 2020