AirAsia Group plans to raise USD600m by end of 2020, to review business in Japan

AirAsia Group CEO Tony Fernandes reported the company plans to raise around MYR2.5 billion (USD602 million) by the end of 2020 to mitigate COVID-19 impacts (Reuters/The Star/Market Screener, 07-Sep-2020). Mr Fernandes said the group is aiming to raise up to MYR1.5 billion (USD360.7 million) from bank loans and another MYR1 billion (USD240.5 million) from investors, including local and foreign conglomerates, strategic partners and private equity players. Mr Fernandes added the company will also review its business in Japan, stating: "I think Japan is something we have to really think hard about. If we had tonnes of cash, then it's something we would probably continue. I think we will have decisions on Japan very soon".