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THIS period is the aviation industry’s darkest hour with no clear signs when airlines will be able to restart the hundreds of airplanes grounded at airports and other global sites.
AIRASIA Group Bhd has quite a bit going for it. It has cash, RM2.59bil of it, a strong business model and a brand-name that naturally is a crowd-puller in any markets it ventures.
PETALING JAYA: AirAsia Group Bhd may have enough cash to last them for most of 2020 but it is currently seeking out a loan from the Malaysian government to cushion the impact from the challenging economic environment.
PETALING JAYA: Opinion is divided on whether the government should help all airlines or be selective even though support is critical during the Covid-19 pandemic
KUALA LUMPUR: Airline companies including some of the most well-known in the industry are facing their biggest challenge due to COVID-19 pandemic, Minister in the Prime Minister's Department (Economy) Datuk Seri Mustapa Mohamed said.
PETALING JAYA: Shipping company Hubline Bhd is cautiously optimistic of its performance for the financial year ending Sept 30,2020 (FY20), driven by its improving dry bulk business and new aviation business venture amid the Covid-19 pandemic.
PETALING JAYA: Soft loans, cash injection and grants are what the local airlines need immediately to pay salaries to their staff, service loans and aircraft leases to stay afloat during this turbulent times and not complex mergers.
KUALA LUMPUR: Malaysia is exploring the possibility of bailing out domestic airlines that have been hit hard by the coronavirus outbreak, according to people with knowledge of the matter.
PETALING JAYA: The coronavirus (Covid-19) pandemic has put the three major local airlines into cash crunch as they are unable to generate enough money with ticket sales drying up. They have resorted to grounding aircraft, meaning they are unable to earn any ancillary income.
FOR people of my age (60 and above), we have experienced three recessions, one financial crisis and one coronavirus (SARS) epidemic in our lifetime. We are about to witness the biggest (three-in-one) economic disaster ever if the world is not able to contain the transmission of Covid-19 within three months.