KUALA LUMPUR: AirAsia Group Bhd's 33 per cent-owned associate company in Japan, AirAsia Japan Co Ltd (AAJ), today filed for bankruptcy.
"(This was) due to insolvency resulting from a demand slump in travel induced by lockdown restrictions related to the coronavirus pandemic," the airline said in a filing with Bursa Malaysia today.
AirAsia Group holds the interest in AAJ via its shareholding in AirAsia Investment Ltd.
On Oct 5, the group announced that its board of directors had decided to cease AAJ's operations with immediate effect to reduce its cash burn amid the highly challenging operating conditions in Japan which have been aggravated by the Covid-19 pandemic.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
DickyMe
Wonderful news!
2020-11-18 17:39