News
Disclaimer by AirAsia X auditors turns up heat on LCC
November 1st 2021
A disclaimer of opinion by AirAsia X auditors, Ernst & Young, means long-haul LCC, AirAsia X, has a year to reorganise or risk being delisted by Bursa Malaysia. Read More » The disclaimer, which expressed concern about the difficulties facing the airline, covers an 18-month financial period to June 30 and means the LCC is now considered a Practice Note 17 issuer. This requires it to follow a series of guidelines that include restructuring within a year or risk being suspended or delisted. AirAsia X said, in a response posted on the stock exchange, it already was undertaking proposed debt, corporate restructuring and fundraising. Details were sent to shareholders in May and court convened meetings about the matters facing the airline are scheduled for November 12.
