jeffrey0032j wrote:flee wrote:RoyalBrunei757 wrote:Malaysia's AirAsia Group wins approval for US$120m government-guaranteed loan
https://www.businesstimes.com.sg/compan ... nteed-loan
[KUALA LUMPUR] Malaysia's AirAsia Group has received approval from Danajamin Nasional Berhad for a club facility of up to RM500 million (S$162.3 million), it said in a statement on Tuesday.
After applying for more than 1.5 years, they finally attained the loan approval. However the USD120mil can barely make a dent on their accounting provisional for next quarter. FYI, AirAsia X reported a loss of about MYR24.63bn ($5.89bn) in the June quarter compared with a loss of MYR305.2m reported in the same period in 2020. It also made provisions of MYR23.8bn (!!) during the period for amount payable to creditors where it is in default under terms of the contract.
Please note that this loan is for AirAsia Group, the short haul airline. It does not concern AirAsia X at all.
Yes, but I'm sure you have realized that given that there is no AirAsia Group thread, that discussions about AirAsia Group itself have been all over this thread.
In any case, the root cause of all of AirAsia's (whether X or not) problems are largely the same - one man's ego.
Perhaps there should be another thread on AirAsia Group. These are two separate legal entities with two different stock exchange listings. Since this thread is about AirAsia X's plans to survive, I suggest that we do not include information that does not concern it.
This loan does not have any impact on AirAsia X's financials.