By Liz Lee KUALA LUMPUR, Oct 8 (Reuters) - Malaysian funds
By Liz Lee
KUALA LUMPUR, Oct 8 (Reuters) – Malaysian funds provider AirAsia Group Bhd AIRA.KL is trying to return some planes to lessors and shrink its fleet, Group Chief Govt Tony Fernandes stated on Thursday, because the airline appears to climate the impression of the coronavirus pandemic.
“We’re not going to purchase new planes and we’re going to return as many as we are able to. I estimate by the tip of subsequent 12 months we’ll be flying 180 planes,” Fernandes advised reporters. The group at present has 245 plane.
AirAsia, like different airways, has been hit arduous by journey restrictions because of the pandemic.
Earlier this week it shut down its Japan operations, and its lengthy haul arm AirAsia X Bhd AIRX.KL stated it was trying to restructure $15.three billion of debt.
It’s also wanting increase round $600 million in capital by the tip of the 12 months.
Fernandes stated AirAsia stays in talks with provider Airbus SA AIR.PA about decreasing pending orders.
“I do not see us getting right into a place the place we wish to purchase planes for quite a few years. And even when we wish to purchase planes, there’ll in all probability be lots of low-cost secondhand planes,” Fernandes stated.
(Reporting by Liz Lee, writing by A. Ananthalakshmi; Enhancing by Jason Neely and Jan Harvey)
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