2020-11-18
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.
Source: The Star Online