AirAsia confirmed securing a loan to keep it afloat …. – : Newsflight :
Airline , October 23,2020

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Malaysian Budget carrier AirAsia Group Bhd has secured a loan as part of its ongoing capital raising plans, Riad Asmat, CEO of the group said on Thursday.

Riad Asmat, said “a loan has been approved and disbursed”…and “we would not be able to disclose the specifics including the lender(s) and amount involved…”

According to sources close to AirAsia, the airline has secured a RM300 million loan to keep it afloat amid the coronavirus pandemic.

AirAsia has said it is looking to raise as much as RM2.5 billion by year-end, RM1.5 billion of which could be in bank loans.

The group has also been seeking a portion of its loans to be guaranteed by the government.

Two weeks ago, its long haul arm AirAsia X Bhd proposed a US$15.3 billion debt restructuring and cutting share capital to avoid liquidation.

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