AirAsia, Capital A shares slide amid reports of possible govt intervention
KUALA LUMPUR, Sept 17 — Capital A Bhd and AirAsia Group Bhd emerged among the top three active counters, following...
AirAsia's Capital A shares have experienced a significant decline of 21.09 percent, falling to 50.5 sen from 72.15 sen, as of 4 pm on September 17, following reports of potential government intervention due to concerns over the company's financial health. The shares saw a trading volume of 133.84 million shares. Similarly, Capital A Bhd's share price dropped 18.18 percent to 22.5 sen, with a trading volume of 118.57 million shares.
Reports suggest that AirAsia owes Malaysia Airport Holdings Bhd a substantial RM500 million, raising concerns about the airline's financial stability. Batik Air CEO Datuk Chandran Rama Muthy stated that the company can swiftly acquire additional aircraft to meet domestic market demand if necessary. AirAsia has clarified that its planned fundraising efforts, which could reach up to US$1 billion (RM4.21 billion) in international debt markets and RM700 million in local credit facilities, are aimed at restructuring debt and consolidating its balance sheet, rather than addressing operational shortfalls.
Brief written by urgent.news from Malay Mail's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
