Malaysia’s AirAsia seeks nearly $500mln in funding – report – ZAWYA

Malaysia’s AirAsia seeks nearly $500mln in funding – report – ZAWYA

Malaysia's AirAsia seeks nearly $500mln in funding - report | ZAWYA MENA Edition HomeBusinessFinancial ServicesArticleMalaysia's AirAsia seeks nearly $500mln in funding - report Part of the funding would come from a share offering within the next six months    A Thai Air Asia Airbus A320-200 plane prepares for take off at Don Mueang International Airport in Bangkok, Thailand, June 29, 2016. KUALA LUMPUR - Malaysia's AirAsia Group Bhd is looking to raise 2 billion ringgit ($469 million), its CEO was quoted as saying by the Nikkei Asian Review on Thursday, a day after its auditor cast doubt on the airline's ability to continue as a going concern.The budget carrier, like other airlines, has been rocked by the COVID-19 pandemic that has hammered demand for air travel. Its auditors said AirAsia's financial statements and current industry conditions indicated material uncertainties that could raise doubts about the company's future prospects. AirAsia said in a statement some financial institutions had indicated they would support a funding request of over 1 billion ringgit and that it was also considering various fundraising options, including debt and equity.The budget carrier, like other airlines, has been rocked by the COVID-19 pandemic that has hammered demand for air travel.