AirAsia Group receives 'indications' from financial institutions to support funding request

AirAsia Group CEO Tony Fernandes stated (09-Jul-2020) "We have been presented with proposals in various forms of capital raising, be it debt or equity, and are in ongoing discussions with numerous parties, including investment banks, lenders, as well as interested investors". Mr Fernandes added the group has received "indications" from certain financial institutions to support a request for funding, amounting to over MYR1 billion (USD234.6 million). Of this debt funding, a certain portion would be eligible for the government guarantee loan under the Danajamin Prihatin guarantee scheme in Malaysia. Mr Fernandes said Philippines AirAsia and Indonesia AirAsia are also in various stages of bank loan applications. Philippines AirAsia applied for a government guaranteed loan under the Philippine Economic Stimulus Act, with an "expected positive outcome".