Fernandes open to assistance for AirAsia, but says no bailout talks
He says AirAsia is working to ride out the crisis by cutting costs and adjusting its operations while using AI to reduce fuel consumption and improve revenue.
AirAsia Group Bhd co-founder and adviser Tony Fernandes has expressed openness to receiving assistance for the airline, but firmly rejected any discussions of a bailout. Speaking on the podcast host Wong Shou Ning's Common Sens programme, Fernandes clarified that there is a difference between assistance and a bailout, emphasizing that AirAsia has not requested government aid and survived the Covid-19 pandemic without it.
He stated that the airline is currently grappling with a sharp increase in fuel costs and is actively seeking ways to cut expenses and adapt to the challenging economic climate. Fernandes mentioned that Petronas is providing credit to the airline, and the company is also working to reduce costs by ending unprofitable routes and leveraging AI to improve efficiency.
He reiterated that the firm is focused on surviving the current crisis while exploring options to refinance existing debt and strengthen its financial position.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Fernandes open to assistance for AirAsia, but says no bailout talks freemalaysiatoday.com
