Chief Executive Officer Tony Fernandes has been in talks for joint ventures and collaborations that may result in additional investment for the beleaguered airline. Bank loans and other capital-raising proposals are also being weighed.
AirAsia Group Bhd. posted its largest quarterly loss on record as restrictions imposed by governments to contain the spread of the coronavirus decimated travel.
Southeast Asia’s second-biggest budget carrier by market value reported a net loss of RM992.9 million ($325.8 million) in the three months ended June 30 versus net income of RM17.3 million a year ago, according to an exchange filing Tuesday. Sales plunged 96% to just RM119 million.
