Baca berita tanpa iklan. Gabung

Malaysia’s AirAsia X to Cease Indonesia Operations to Survive Covid-19 Crisis

October 20, 2020, 12.21 AM

JAKARTA, – Malaysian long haul carrier AirAsia X plans to cease Indonesia operations to survive the Covid-19 pandemic that has grounded its fleet since March.

The company’s deputy chairman, Lim Kian Onn, said that the step was taken as part of the restructuring plan to wipe out nearly 63.5 billion Ringgits ($15.3 billion) in debt.

Lim said that it was difficult to get approval from investors as they were disappointed. They had asked for better terms including free equity for forgiven debt. However, he added, it would be impossible for the company to fulfill.

Also readGaruda Indonesias Debt Balloons to $2.2B on Coronavirus Pandemic Woes

Even so, Lim assured that he would find a solution to develop the airline business.

“No one has anything to gain from our demise,” The New Straits Times quoted Lim as saying on Monday, October 19.

AirAsia Group CEO Tony Fernandes also said that long-haul flights will take longer to recover than the short-haul flights or domestic routes. “Business travel, intercontinental flights, first-class travel will take a long time to recover.” 

(Writer: Rully R. Ramli | Editor: Sakina Rakhma Diah Setiawan)


Simak breaking news dan berita pilihan kami langsung di ponselmu. Pilih saluran andalanmu akses berita WhatsApp Channel : Pastikan kamu sudah install aplikasi WhatsApp ya.

Comment wisely and responsibly. Comments are entirely the responsibility of the commentator as regulated in the ITE Law
Thank You! We have received your report. We will remove comments that conflict with the Community Guidelines and the ITE Law.

More Headlines

April 14, 2023, 12.38 PM

Indonesia Detects New Covid Arcturus Variant

Baca berita tanpa iklan. Gabung
Baca berita tanpa iklan. Gabung


Baca berita tanpa iklan. Gabung
Baca berita tanpa iklan. Gabung
Close Ads