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AirAsia Japan Co Ltd (AAJ), today filed for bankruptcy with the Tokyo District Court, Japan.
AirAsia Group, which owns 33% stake in AirAsia Japan said “Total cost of investment in AAJ has been fully written down. Further announcement(s) will be made in due course on the particulars of claim and financial impact to the company, if any, under the bankruptcy proceedings,”
“Given AirAsia Japan’s current financial position, we regret to inform that AirAsia Japan is currently unable to settle the outstanding refunds,” the statement said. “We sincerely apologize for any inconvenience caused to customers who have used or booked AirAsia Japan flights.”
AirAsia Japan announced on Oct 5, its decision to cease operations as the airline was affected by the slump in Air Travel induced by COVID-19.
AirAsia Japan was was founded in July 2014, with its base of operations at Nagoya’s Chubu Centrair International Airport.
The Airline ceased operation on 5 Oct 2020. Before the shutdown, AirAsia Japan’s employees were invited to apply for voluntary retirement, but these and other steps failed to solve the carrier’s financial problems.