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www.bbc.com: Coronavirus: Budget airline AirAsia's future in ‘significant doubt’

Read Full Article Here: https://www.bbc.com/news/business-53331387

Image copyright Getty ImagesThe future of Asia’s biggest budget airline, AirAsia, is in “significant doubt”, auditor Ernst & Young has said.

Shares in the Malaysian-based airline fell by more than 17% on Wednesday after being halted earlier in the day.

The world’s airlines have been hit hard by the sharp fall in passengers due to strict coronavirus travel restrictions.

Ernst & Young highlighted the airline’s huge debts in a statement to the Kuala Lumpur stock exchange late on Tuesday.

The Asian carrier’s financial performance and cash flow have been further hit by the grounding of its planes amid tight travel curbs and lockdowns.

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