AirAsia Japan files for bankruptcy due to travel slump

KUALA LUMPUR: AirAsia Group Bhd said its 33% owned associate firm AirAsia Japan Co Ltd (AAJ) has filed for bankruptcy proceedings on Nov 17.

AirAsia Japan had on Oct 5 announced its decision to cease operations.

AirAsia said its associate firm was affected by the slump in travel induced by lockdown restrictions related to the coronavirus pandemic.

"Total cost of investment in AirAsia Japanhas been fully written down," AirAsia said in filing with Bursa Malaysia today.

Save 30% OFF The Star Digital Access

Monthly Plan

RM 13.90/month

RM 9.73/month

Billed as RM 9.73 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 8.63/month

Billed as RM 103.60 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
AirAsia Japan , bankruptcy

Next In Business News
Brahim's to expand PIA kitchen this year, eyes rising tourist arrivals
Bursa Malaysia bounces slightly ahead of US payrolls data
Ringgit opens lower against firmer US$ ahead of US non-farm payrolls release
Nov 2025, air passenger demand up 5.7% y-o-y - IATA
Trading ideas: Sunway, Capital A, Kinergy, Orkim, T7 Global, Insights Analytics, Alam Maritim, Globaltec, PJBumi, IGBREIT, ISF
IAB secures RM58mil water supply contract
Sunway lodges RM10bil sukuk initiative with SC
T7 Global unit wins PETRONAS Carigali deal
Padini profit margin within target range
Ringgit ends lower after Trump’s warning to firms

Trending in Business

Others Also Read

Load more

Copyright © 1995- Star Media Group Berhad [197101000523 (10894-D)]

Best viewed on Chrome browsers.