|Bid||0.9300 x 0|
|Ask||0.9350 x 0|
|Day's Range||0.9300 - 0.9500|
|52 Week Range||0.5000 - 1.1000|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||2.05|
|Earnings Date||Aug 28, 2019 - Sep 03, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Malaysian budget carrier AirAsia Group Bhd has postponed its fourth-quarter earnings release by about a month, just as its closed Japan unit starts bankruptcy proceedings. Malaysian market regulators have granted listed companies temporary relief measures in response to the coronavirus pandemic. AirAsia in a bourse filing on Wednesday said its 33%-owned Japan unit, which ceased operations last October, had begun bankruptcy proceedings.
The struggling airline, which reported a fifth straight quarterly loss in November as the pandemic took its toll on travel, has been seeking to raise 2.5 billion ringgit from loans and investors. The proposed exercise announced on Thursday entails issuance of up to 20% of its total existing shares, or 668.4 million shares, to be placed with third party investors to be identified later, AirAsia said in a bourse filing. AirAsia said the funds will be for fuel hedging settlement, aircraft lease and maintenance payments, technology development costs, product and market expansion costs, marketing expenses and general working capital.
Malaysia's AirAsia Group Bhd is looking to slash dozens of planes from its fleet by returning aircraft to lessors, Group Chief Executive Tony Fernandes said on Thursday. Fernandes said AirAsia remains in talks with planemaker Airbus about reducing pending orders. The budget carrier, like other airlines, has been hit hard by travel restrictions due to the pandemic.